News
7 July 2006
Trading Update
Mattioli Woods plc, the specialist pensions consultancy, today issues the following trading update in advance of its Preliminary Results for the year ended 31 May 2006, which are to be announced on Tuesday, 5 September 2006.
Bob Woods , Executive Chairman, comments:
“We are pleased to report that trading results over the six months since our admission to AIM have been strong, as expected against the backdrop of continued growth in the Self Invested Personal Pensions (SIPP) market and the long awaited implementation of the Government’s Pension Simplification legislation “A-Day” on 5 April 2006.
“A-Day” has created demand for additional consultancy services, which have been of great benefit to our clients. This has resulted in a large number of pension and property transactions being carried out in both the run up to, and the immediate aftermath of, the new legislation. We expect the uncertainty about the new legislation, which is evident in the marketplace, to stimulate further demand for our consultancy services.
“The prospects for our traditional Small Self Administered Schemes (SSAS) are strong, and we believe the benefits of SSAS may have been overlooked by the market. The two acquisitions we made during the financial year have been successfully integrated into the Group’s activities, and reinforce our confidence in achieving full year results in line with market expectations.
“Investment markets over the year generally have been favourable, and strong investment returns for a third year running, on the back of sound investment strategies, have been very well received by our clients. We continue to be well placed with our investment strategies, despite the recent equity market downturn.
“We launched our first ‘structured product’ in June, linking the performance in major emerging market economies over a five-year period with a 100% capital guarantee. Subject to market conditions, we intend to continue to offer such contracts going forward.
“Our recent recruitment activity has kept administrative capacity in line with budget. The outlook for the Group remains positive, and we are confident of delivering continued growth in the year ending 31 May 2007.”
For further information:
Mattioli Woods plc |
|
| Bob Woods, Executive Chairman Ian Mattioli, Chief Executive Nathan Imlach, Finance Director |
Tel: +44 (0) 116 240 8700 |
Media enquiries:
Abchurch |
|
| Sarah Hollins/Justin Heath |
Tel: +44 (0) 113 203 1340 |
| sarah.hollins@abchurch-group.com | www.abchurch-group.com |