Mattioli Woods PLC - Leicester-based asset manager - For the six months ended November 30, revenue grows 69% to GBP49.9 million from GBP29.5 million a year before, with new acquisitions including Maven Capital Partners and Ludlow Wealth Management fostering growth and performing ahead of budget.
Company notes the achievement of a key milestone, with total client assets reaching GBP15.1 billion as at November 30, up 42% from GBP10.6 billion, while gross discretionary assets under management increases 55% year-on-year to GBP5.1 billion from GBP3.3 billion.
"During the period, we proactively balanced securing good financial outcomes for our clients with ensuring the long-term sustainability of our business, and I am pleased to report further material progress towards our strategic medium-term goals, with total client assets now at GBP15.1 billion," said Chief Executive Ian Mattioli.
"The group's trading outlook for the current financial year remains in line with management's expectations and Mattioli Woods remains well-positioned to deliver sustainable shareholder returns," Mattioli added.
Mattioli Woods will publish its interim results on February 8.
Current stock price: 857.00 pence
12-month change: up 14%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Mattioli Woods (MTW)