News
3 July 2007
Pre-Close Update
Mattioli Woods plc (AIM: MTW.L), the specialist pensions consultancy, today issues the following trading update in advance of its Final Results for the year ended 31 May 2007, which are to be announced on 4 September 2007.
Bob Woods, Executive Chairman, comments:
"I am pleased to report that strong growth in our key revenue streams continued into the second half of the financial year. I am also delighted to report that earnings are in line with our revised expectations, following the strong results reported for the first half of the year.
"It is over a year since the Government introduced the "A-Day" pension simplification legislation and the self-invested personal pension ("SIPP") is now accepted as the pension vehicle of choice for a wider audience. We believe the ongoing decline in final salary schemes, in which some £1.5 trillion is currently invested, will act as the catalyst for further growth in the SIPP industry.
"The consultancy team has added a record number of new schemes to our client portfolio over the last 12 months. Whilst there has been strong growth throughout the SIPP market, we continue to focus on attracting high net worth clients who require the ancillary services we offer, such as investment, business and estate planning, in addition to our core pension administration and consultancy services. These additional services offer an opportunity for further turnover growth and increased margins.
"Syndicated property investment is an increasingly important element of our investment planning services. During the year we facilitated the acquisition of six properties on behalf of new syndicates, with the total portfolio now being valued at over £60 million.
"Given the market opportunity, we have recently appointed a sales and marketing manager to support our sales and marketing director. This will allow the Group to expand the seminar programme and introduce new marketing initiatives.
"Our continued commercial success is a great testament to the efforts of all our staff. Working as part of such an energetic and committed team gives me great confidence we are well-positioned to achieve future growth."
For further information:
Mattioli Woods plc |
www.mattioli-woods.com |
|
Bob Woods, Executive Chairman Ian Mattioli, Chief Executive |
Tel: +44 (0) 116 240 8700 |
Nathan Imlach, Finance Director |
www.mattioli-woods.com |
| nathan.imlach@mattioli-woods.com |
Tel: +44 (0) 116 240 8700 |
| Evolution Securities Limited | |
| Joanne Lake, Corporate Finance | Tel: +44 (0) 113 243 1619 |
| joanne.lake@evosecurities.com | www.evosecurities.com |
Media enquiries:
Abchurch |
www.abchurch-group.com |
| Sarah Hollins/Justin Heath sarah.hollins@abchurch-group.com |
Tel: +44 (0) 113 203 1341 |
Notes to editors
Mattioli Woods was established in 1991 by Ian Mattioli and Bob Woods. The Group provides pensions consultancy and administration services primarily to owner-managers, senior executives and professionals. Mattioli Woods’ key activities include complex pensions consultancy, the provision of self-invested personal pensions (“SIPP”) and small self-administered pension schemes (“SSAS”), advice on related business affairs, including pension investment services and the facilitation and administration of syndicated property schemes. Its focus is at the higher end of the market where clients require bespoke service and specialist advice.
Mattioli Woods listed on the AIM market on 23 November 2005.