(Alliance News) - Mattioli Woods PLC on Tuesday said it ended the first half of its financial year with a record total of client assets.
At November 30, the wealth manager held total client assets of GBP10.58 billion, up from GBP9.30 billion six months earlier at the start of June.
Mattioli recorded net inflows of GBP439.7 million in the first half, to which was added GBP244.0 million in positive market movements.
The firm also noted it acquired GBP593.9 million in assets during the period - including Hurley Partners, Montagu Ltd and Exempt Property Unit Trust.
The wealth manager upped its interim dividend by 2.7% year on year to 7.5 pence from 7.3p.
Chief Executive Ian Mattioli said: "The first six months of this financial year saw a continuation of the market and economic uncertainty that was a feature for most of 2020.
"Throughout the period we proactively balanced securing positive financial outcomes for our clients with ensuring the long-term sustainability of our business, remaining true to our purpose of putting clients first in all that we do, which has been consistent throughout our 30 years of trading."
The trading outlook for the current year remains in line with management's expectations, Mattioli Woods said.
"We are pleased by our performance in the first half of the financial year and plan to build on this momentum, advancing our key strategic initiatives: new business generation, growth through strategic acquisitions, developing new products and services including developing our own technology solutions and delivering improved operational efficiencies," the CEO commented.
"Our trading outlook for the year remains in line with management's expectations, and we believe the group is well-positioned to grow, both organically and by acquisition. We are committed to delivering our ambitious growth strategy and in doing so create a business that remains responsibly integrated for the future and continues to deliver sustainable shareholder returns."
Shares in Mattioli Woods were trading 0.6% higher in London on Tuesday at 749.72 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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Mattioli Woods (MTW)