Mattioli Woods enjoys jump in pre-tax profit
SPECIALIST pensions consultancy Mattioli Woods yesterday reported pre-tax profits up 11.3 per cent for the year to the end of May.
The Aim-listed firm saw profit before tax jump from £3.71m last year to £4.13m, on the back of a 22.6 per cent rise in revenue from £10.83m to £13.28m.
The company is also proposing a final dividend of 2.75p, up from 2p last year.
Executive chairman Bob Woods said: “Against the backdrop of an almost unprecedented downturn in global markets, the growth in core scheme numbers and funds under trusteeship over the past twelve months highlights the resilience of our business model and the value that clients place on our proactive and impartial advice.”
He added that trading was in line with expectations and that the company expected to benefit from an increase in its marketing efforts, including a series of client seminars in the UK.
The company said it had attracted 236 new SSAS and SIPPs – types of specialist pension scheme – during the period and that core funds under trusteeship were up from £1.35bn to £1.46bn.