Mattioli Woods PLC - Leicester-based asset manager - Posts higher full-year profit on the back of increased revenue. Pretax profit in the year to May 31 climbs 57% to GBP8.0 million from GBP5.1 million a year prior. Revenue surges 73% to GBP108.2 million from GBP62.6 million.
Proposes final dividend of 17.8 pence per share, up 32% from 13.5p. Total dividend rises 24% to 26.1p from 21.0p.
States optimistic outlook despite macroeconomic conditions as it trades in line with expectations. Plans to advance strategic initiatives via new business generation and growth through integration of acquisition as well as developing new products and services.
"As previously disclosed, cost inflation and progressing our strategic initiatives including investment in people and technology are expected to impact margins in the short term but will position us to secure future growth in revenue and profits. This will also provide opportunities to deliver future growth and sustainable shareholder returns as a business that is here for the long term," says Chief Executive Officer Ian Mattioli, who founded the firm in 1991 with Bob Woods.
Current stock price: 660.00 pence, up 3.1% on Tuesday
12-month change: down 20%
By Tom Budszus; tombudszus@alliancenews.com
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Mattioli Woods (MTW)