Mattioli Woods reports strong rise in revenues

Aim-listed wealth management firm Mattioli Woods has reported a 17.9% jump in its revenues for the six months to end of November last year and has hiked its dividend as a result.

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Revenues jumped from £24.3m in the first half of the year to £28.4m, with the the group reporting growth across its range of advice, products and services it offers.

Total client assets, including £197m of funds under management from Amati Global investors, which Mattioli purchased 49% of 12 months ago, rose 5.2% from £7.93bn to £8.34bn at the end of the period.

Indeed Mattioli’s investment and asset management revenues rose 18.4% to £12.2m over the last six months, a period which saw the firm launch its first multi asset funds in August.

With the strong growth in revenues translating into strong growth in the firm’s adjusted earnings per share, which jumped 15% to 19.2p, the Mattioli board announced it was recommending the payment of an increased interim dividend, up 17% from 4.7p to 5.5p.

“In recent years, we have seen a period of unprecedented change in regulation, legislation and client needs as the demand for advice and the potential market for our products and services continue to grow,” said Ian Mattioli, chief executive officer, commenting on the results.

He added: “We have designed the group to deliver great client outcomes and sustainable shareholder returns. The outlook for this year remains in line with our expectations and I believe we are very well positioned to meet the ambitious longer term goals we have set.”

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