Mortgage Advice Bureau (Holdings) (MAB1)

Sector:

Financials

Index:

FTSE AIM 50

794.00p
   
  • Change Today:
    -8.00p
  • 52 Week High: 946.00p
  • 52 Week Low: 544.00p
  • Currency: UK Pounds
  • Shares Issued: 57.96m
  • Volume: 234,267
  • Market Cap: £460.18m

Mortgage Advice Bureau profits unaffected by Brexit

By Bianca Boorer

Date: Friday 27 Jan 2017

LONDON (ShareCast) - (ShareCast News) - Mortgage Advice Bureau Holdings (MAB), an AIM-listed network for mortgage intermediaries, has provided a trading update for the year ended 31 December 2016.
Underlying profit before tax for the year ended 31 December 2016 was ahead of market consensus despite the lull in activity in the housing and mortgage market surrounding the EU referendum.

Group revenue was in line with market consensus and increased by 23% to £92m, driven by an increase in the average number of Advisers to 888 in the 12 months to 31 December 2016.

Average revenue per adviser was flat in 2016 due to the impact of the quiet period. Despite this, the company expects to see a turnaround during the current year. The total number of advisers increased by 20% to 950 period end.

The group's cash position at 31 December was over £18m including over £10m of unrestricted cash balances.

According to the Council of Mortgage Lenders (CML) estimates' gross mortgage lending (GML) for 2016 and 2017 are £246bn and £248bn, respectively. Its first estimate for 2018 was also £252bn, showing that GML growth is expected to be flat for this and next year.

Peter Brodnicki, CEO of Mortgage Advice Bureau (Holdings) plc, said: "Despite the uncertainty the EU referendum brought to the housing and mortgage markets last summer, MAB has delivered yet another strong performance. Activity levels picked up following the expected summer lull, and from this position the housing and mortgage markets are forecast to be flat over the next few years.

"Regardless of the EU referendum and predictions of flat housing and mortgage markets, MAB's future growth plans remain unchanged. Our strategy is very clear both in the short and longer term, and the investments made in 2016 form part of our longer term planning to maintain year on year market share growth and further strengthen MAB's overall market position."

The share price rose 2.33% to 379.25p at 1332 GMT on Friday.

Email this article to a friend

or share it with one of these popular networks:


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 794.00p
Change Today -8.00p
% Change -1.00 %
52 Week High 946.00p
52 Week Low 544.00p
Volume 234,267
Shares Issued 57.96m
Market Cap £460.18m

MAB1 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.11% below the market average57.11% below the market average57.11% below the market average57.11% below the market average57.11% below the market average
81.65% below the sector average81.65% below the sector average81.65% below the sector average81.65% below the sector average81.65% below the sector average
Price Trend
40.56% above the market average40.56% above the market average40.56% above the market average40.56% above the market average40.56% above the market average
30.97% above the sector average30.97% above the sector average30.97% above the sector average30.97% above the sector average30.97% above the sector average
Income
3.88% above the market average3.88% above the market average3.88% above the market average3.88% above the market average3.88% above the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Growth
59.91% below the market average59.91% below the market average59.91% below the market average59.91% below the market average59.91% below the market average
35.92% below the sector average35.92% below the sector average35.92% below the sector average35.92% below the sector average35.92% 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
  Interim Final
Ex-Div 03-Oct-24 25-Apr-24
Paid 01-Nov-24 29-May-24
Amount 13.40p 14.70p

Trades for 31-Oct-2024

Time Volume / Share Price
16:36 20,000 @ 794.00p
16:35 11,333 @ 794.00p
16:35 56 @ 794.00p
16:35 92 @ 794.00p
16:35 43 @ 794.00p

MAB1 Key Personnel

CEO Peter Brodnicki
CFO Emilie McCarthy

Top of Page