Mortgage Advice Bureau (Holdings) (MAB1)

Sector:

Financials

Index:

FTSE AIM 50

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582.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 720.00p
  • 52 Week Low: 490.00p
  • Currency: UK Pounds
  • Shares Issued: 51.11m
  • Volume: 462,851
  • Market Cap: £297.44m
  • Beta: 0.04

Mortgage Advice Bureau revenues up in first half

By Josh White

Date: Tuesday 25 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Mortgage Advice Bureau Holdings announced its interim results for the six months ended 30 June on Tuesday, reporting a 17% improvement in revenue to £57.9m.
The AIM-traded company said its gross profit was up 9% to £13.0m, while its gross margin weakened slightly to 22.5% from 24.1%.

Its overheads ratio was 10.9%, down from 12.0% year-on-year.

Profit before tax was ahead 11% at £7.0m, with the profit before tax margin slipping to 12.0% from 12.7%.

Earnings per share were 11% stronger at 11.7p, and the firm's operating profit-t-adjusted cash conversion stood at 108%, compared to 116% at the interim last year.

The board declared an interim dividend of 10.6p, up 12.0%.

It added that the company was in a "strong" financial position, with a "significant" surplus above its regulatory capital requirement and unrestricted cash balances of £12.5m, down from £13.2m on 31 December.

"I'm very pleased with our results for the first half, with revenue up 17% and profit before tax up 11% on the prior year despite market headwinds," said chief executive Peter Brodnicki.

"We have built upon our established track record to deliver further top and bottom line growth, with a clear outperformance against the housing market which has seen a 5% fall in the number of transactions compared to the equivalent period in 2017."

Brodnicki said that importantly, Mortgage Advice Bureau was continuing to grow its market share, with its primary focus being to support its business partners and ensure they delivered the "best advice" to as many customers as possible.

"I am delighted to report 12% growth in our share of the new mortgage lending market to 4.7%, against 4.2% last year.

"UK Finance recently provided their first estimate of the value of product transfers, giving a figure of £53.7bn for the first quarter of 2018.

"Along with the reduction in house purchase transactions, the increase in product transfers has resulted in a changing sales mix in the first half and presents a considerable opportunity for MAB to increase its market share in product transfers, alongside a greater focus on protection sales for non-purchase business."

The company had "always" sought to use technology to improve the way its operated, Brodnicki explained, with it deliberately making technology central and integral to its business model.

"As we look forward, we expect to use developments in technology to directly benefit MAB advisers and customers, through improvements in efficiency, productivity, lead generation, product offering and customer experience.

"We are excited about how delivering this will help us to attract more advisers and customers into MAB, assisting our future growth plans."

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MAB1 Market Data

Currency UK Pounds
Share Price 582.00p
Change Today 2.00p
% Change 0.34 %
52 Week High 720.00p
52 Week Low 490.00p
Volume 462,851
Shares Issued 51.11m
Market Cap £297.44m
Beta 0.04

MAB1 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.5% below the market average86.5% below the market average86.5% below the market average86.5% below the market average86.5% below the market average
86.21% below the sector average86.21% below the sector average86.21% below the sector average86.21% below the sector average86.21% below the sector average
Price Trend
57.69% above the market average57.69% above the market average57.69% above the market average57.69% above the market average57.69% above the market average
64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average
Income
36.12% above the market average36.12% above the market average36.12% above the market average36.12% above the market average36.12% above the market average
20.48% below the sector average20.48% below the sector average20.48% below the sector average20.48% below the sector average20.48% below the sector average
Growth
17.96% above the market average17.96% above the market average17.96% above the market average17.96% above the market average17.96% above the market average
24.19% below the sector average24.19% below the sector average24.19% below the sector average24.19% below the sector average24.19% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MAB1 Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-19 04-Oct-18
Paid 24-May-19 26-Oct-18
Amount 12.70p 10.60p

Trades for 17-Jun-2019

Time Volume / Share Price
15:18 358 @ 592.00p
14:55 1,062 @ 586.00p
14:55 500 @ 584.00p
14:55 135 @ 586.00p
14:52 600 @ 593.58p

MAB1 Key Personnel

CEO Peter Brodnicki
Finance Director Lucy Tilley

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