26 Nov 2010
Trading Update and Notice of Interim Results
Mattioli Woods plc (AIM: MTW.L), the specialist pensions consultancy, today issues the following trading update in advance of its Interim Results for the six months ending 30 November 2010, which will be announced on Tuesday, 25 January 2011.
Bob Woods, Executive Chairman, comments:
“I am pleased to report the Group has continued to perform well over the last six months and trading remains in line with the board’s expectations.
“We have enjoyed strong growth in administration and consultancy fees compared to the equivalent period last year. I welcome the Coalition Government’s proposals for pension reform and expect these legislative changes to drive further demand for advice. We are proactively engaging with our clients to help them understand the implications of these proposals.
“Investment revenues are in-line with the same period last year. Typically, our revenues in the second half have been higher than in the first half, primarily due to many of our clients’ business year-ends and the fiscal year-end falling into this period. Events in Ireland and uncertainty around the impact of this on other eurozone countries have tempered some clients’ appetite for risk. However, I expect the issues created by the Irish bail-out to have a positive impact on our investment revenues over the remainder of this financial year.
“As part of the development of our client proposition, we are working with a short-list of platform providers to launch a discretionary fund management offer in the summer of 2011. This new service will add to our recurring revenues and create both consultancy and administrative capacity.
“The integration of both our recent acquisitions has progressed well. City Trustees has relocated to new London offices on schedule and within budget, providing a strong platform to deliver high quality administration and technical support to ‘top end’ IFAs and their clients. We are confident there is strong demand for this addition to the Group’s service offering.
“We look forward to building upon our track record of profitable growth.”
Notice of Interim Results
Mattioli Woods will be announcing its Interim Results for the six months ending 30 November 2010 on Tuesday, 25 January 2011.
An analyst briefing given by Bob Woods, Executive Chairman and Nathan Imlach, Finance Director will be held at 09:30 hrs on Tuesday, 25 January 2011 at Financial Dynamics Limited, Holborn Gate, 26 Southampton Buildings, London WC2A 1PB.
Those analysts wishing to attend are asked to contact Justine Cording at Financial Dynamics on +44 (0) 20 7269 7265 or at email@example.com .
For further information please contact:
Ian Mattioli, Chief Executive
Nathan Imlach, Finance Director
Evolution Securities Limited
Notes to editors
Mattioli Woods is one of the UK’s leading and fastest growing providers of specialist pension consultancy and retirement wealth management. Its core services are targeted towards the higher end of the market including controlling directors, professionals, owner-managed businesses and small to medium-sized PLCs.
The Group is focused on the application and administration of self-invested personal pensions (“SIPPs”) and small self-administered pension schemes (“SSASs”). Following the recent acquisition of City Trustees Limited, a provider of bespoke pensions administration, the Group now services over 4,000 pension fund clients throughout the UK with funds under trusteeship in excess of £2.1 billion.
Mattioli Woods focuses on providing the highest level of personalised service delivery, maintaining close relationships with all its clients. The strength of its personal relationships has led to high levels of client satisfaction, retention and referrals.
The Group provides clients with the following:
For more information visit www.mattioli-woods.com and www.citytrustees.com.