Login Subscribe
Latest News
NEWS | 2011 | Interim Results
Interim results

25 Jan 2011

Interim Results

Mattioli Woods plc (AIM: MTW.L), the specialist pensions consultancy, today reports its Interim Results for the six months ended 30 November 2010.

To download the full results in PDF format, click here

Highlights

• Revenue up 12.7% to £7.43m (1H10: £6.59m)
• EBITDA up 8.4% to £2.46m (1H10: £2.27m)
• Adjusted profit before tax and amortisation¹ up 12.0% to £2.42m (1H10: £2.16m)
• Adjusted EPS² up 17.4% to 10.61p (1H10: 9.04p)
• Interim dividend up 13.8% to 1.65p (1H10: 1.45p)
• Total funds under trusteeship³ up 27.7% to £2.03bn (1H10: £1.59bn)
• Scheme numbers up 48.2% to 4,348 (1H10: 2,934)
• Acquisition of City Trustees in August 2010
• Net cash at period end of £1.75m (1H10: £4.66m)

1. Before acquisition costs expensed under IFRS3 (Revised), amortisation and impairment of intangible assets other than computer software
2. Basic EPS up 6.4% to 8.86p (1H10:8.33p)
3. Funds under trusteeship in clients' SSAS and SIPP schemes (excludes £157.0m in group pension schemes and £32.7m of personal investments)

Commenting on the Interim Results, Bob Woods, Executive Chairman, said:

"I am very pleased to report a strong set of interim results, with continued progress across the Group and double digit growth in revenue and profits. Our newly acquired businesses are performing well and our ambition to continue expanding our operations, both organically and by further strategic acquisitions, remains on track.

The Government's new pensions initiatives herald an exciting new era for the industry. Against the backdrop of an increasingly sophisticated market in which consumers will seek trusted, competent and impartial advisers, I am confident our strategy to develop broader wealth management services, complementary to our core pensions services, will match this changing market demand and deliver strong sustainable growth. Current trading is in line with the board's expectations and we are pleased to announce an increased interim dividend up by 13.8%.

Interim results

For further information please contact:

Mattioli Woods plc
Bob Woods, Executive Chairman
Tel: +44 (0) 116 240 8700
bob.woods@mattioli-woods.com
www.mattioli-woods.com

Ian Mattioli, Chief Executive
Tel: +44 (0) 116 240 8700
ian.mattioli@mattioli-woods.com
www.mattioli-woods.com

Nathan Imlach, Finance Director
Tel: +44 (0) 116 240 8700
nathan.imlach@mattioli-woods.com
www.mattioli-woods.com

Evolution Securities Limited
Joanne Lake, Corporate Finance
Tel: +44 (0) 113 243 1619
joanne.lake@evosecurities.com
www.evosecurities.com

Media enquiries:
Financial Dynamics Limited
Ed Gascoigne-Pees / Nick Henderson
Tel: +44 (0) 20 7269 7114
ed.gascoigne-pees@fd.com
www.fd.com

Interim results
Analyst presentation

There will be an analyst presentation to discuss the results at 9.30am today at Financial Dynamics, Holborn Gate, 26 Southampton Buildings, London WC2A 1PB.

Those analysts wishing to attend are asked to contact Justine Cording at Financial Dynamics on +44 20 7269 7265 or at justine.cording@fd.com.


Shadow