Last checked at 17 Dec 2021 07:00
17 December 2021
Mattioli Woods plc
("Mattioli Woods", "the Company" or "the Group")
Trading Update
Mattioli Woods (AIM: MTW.L), the specialist wealth and asset management business, today issues the following trading update for the six months ended 30 November 2021.
Net inflows into the Group's investment and asset management services and the number of new clients on-boarded in the financial year to date are ahead of the prior year, reflecting the strength of existing client referrals and new business initiatives. These initiatives are also driving an increasing pipeline of new business enquiries, with organic revenue growth in excess of 10 per cent. for the period.
Each of the Group's recent acquisitions are performing and integrating well. The anticipated revenue and cost synergies identified on Mattioli Woods' acquisitions of Maven Capital Partners and Ludlow Wealth Management are already starting to be realised, with both businesses trading ahead of budget for the year to date.
We anticipate further consolidation within the wealth management, pensions administration and financial planning sectors, with many more opportunities coming to market. The Group expects to build upon its strong track record of successful acquisitions by continuing to assess and progress bolt-on opportunities in the nearer term as well as potentially more substantial opportunities in the longer term, with all required to meet its strict investment criteria.
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.
A fuller trading update is expected to be released in early January 2022.
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018."
For further information please contact:
Mattioli Woods plc | ||
Ian Mattioli MBE, Chief Executive Officer | ||
Ravi Tara, Chief Financial Officer | Tel: +44 (0) 116 240 8700 | |
Michael Wright, Group Managing Director | www.mattioliwoods.com | |
Canaccord Genuity Limited (Nominated Adviser and Joint Broker) | ||
Adam James | Tel: +44 (0) 20 7523 8000 | |
Thomas Diehl | www.canaccordgenuity.com | |
Singer Capital Markets (Joint Broker) | ||
Justin McKeegan | ||
Tom Salvesen | Tel: +44 (0) 20 7496 3000 | |
Alaina Wong | www.singercm.com | |
Media enquiries: Camarco | |
Julia Tilley | Tel: +44 (0) 20 3757 4998 |
Daniel Sherwen | www.camarco.co.uk |