Mortgage Advice Bureau (Holdings) (MAB1)

Sector:

Financials

Index:

FTSE AIM 50

912.00p
   
  • Change Today:
      36.00p
  • 52 Week High: 924.00
  • 52 Week Low: 500.00
  • Currency: UK Pounds
  • Shares Issued: 57.13m
  • Volume: 14,332
  • Market Cap: £521.00m

Mortgage Advice Bureau describes stabilising market

By Josh White

Date: Wednesday 24 May 2023

LONDON (ShareCast) - (Sharecast News) - Mortgage Advice Bureau said in an update on Wednesday that in the second quarter of the year, its adviser numbers stabilised at 2,121 as at 19 May.
The AIM-traded firm, which was holding its annual general meeting, said it expected its existing appointed representative firms to resume growth in adviser numbers later in the year.

It said the anticipated growth was likely to coincide with improved consumer confidence, driven by greater certainty over mortgage interest rates and the overall economic outlook.

Additionally, MAB said it was seeing a robust increase in its pipeline of incoming new appointed representatives throughout the current year.

As predicted, the wider market experienced a slowdown in the value of completions in the first quarter, with a 21% decrease in new mortgage lending year-on-year.

However, MAB's total mortgage completions for the same period remained relatively stable at £5.8bn - marginally down from £5.9bn in 2022.

Within that figure, new mortgage completions amounted to £4.4bn, compared to £4.9bn in 2022, while product transfers accounted for £1.4bn, up from £1bn a year earlier.

Notably, MAB said it had managed to increase its market share, despite a reduction in the number of advisers since the fourth quarter of last year.

"During the six months following the mini-budget, new mortgage approvals across the market were down by as much as 40% versus the prior year," non-executive chair Katherine Innes Ker explained.

"There are early signs of increasing activity and mortgage approval levels have now gradually started to improve, but remain significantly lower than for the equivalent period last year.

"MAB's performance, despite challenging market conditions, remains in line with the board's expectations with further improvement expected in the second-half of the year."

At 1122 BST, shares in Mortgage Advice Bureau Holdings were up 1.3% at 806.34p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MAB1 Market Data

Currency UK Pounds
Share Price 912.00p
Change Today 36.00p
% Change 4.11 %
52 Week High 924.00
52 Week Low 500.00
Volume 14,332
Shares Issued 57.13m
Market Cap £521.00m

MAB1 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.61% below the market average73.61% below the market average73.61% below the market average73.61% below the market average73.61% below the market average
90.48% below the sector average90.48% below the sector average90.48% below the sector average90.48% below the sector average90.48% below the sector average
Price Trend
68.69% above the market average68.69% above the market average68.69% above the market average68.69% above the market average68.69% above the market average
70.69% above the sector average70.69% above the sector average70.69% above the sector average70.69% above the sector average70.69% above the sector average
Income
39.9% below the market average39.9% below the market average39.9% below the market average39.9% below the market average39.9% below the market average
93.94% below the sector average93.94% below the sector average93.94% below the sector average93.94% below the sector average93.94% below the sector average
Growth
71.77% below the market average71.77% below the market average71.77% below the market average71.77% below the market average71.77% below the market average
45.79% below the sector average45.79% below the sector average45.79% below the sector average45.79% below the sector average45.79% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MAB1 Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 05-Oct-23
Paid 29-May-24 03-Nov-23
Amount 14.70p 13.40p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 1,761 @ 912.00p
16:35 1 @ 912.00p
16:35 52 @ 912.00p
16:35 53 @ 912.00p
16:35 157 @ 912.00p

MAB1 Key Personnel

CEO Peter Brodnicki
CFO Lucy Tilley

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