Half-yearly revenue up 29 per cent at Mattioli Woods

Revenue at specialist pensions consultancy Mattioli Woods rose 29 per cent to 11.3m pounds in the six months ended November 30th.

In an interim statement published on Tuesday, the group further reported that recurring revenues represented 64.4% of revenue, while adjusted profit before tax was up 26% to £2.52m.

The group's interim dividend was up 25.9% to 2.33p and company said that it was in a strong financial position with net cash of £3.94m.

Total client assets rose 13.3% to £3.24bn, whilst consultant numbers increased by 19.6% to 55.

Bob Woods, Executive Chairman, said: "We are delighted to report that the group has made further strong progress towards our long-term strategic goals.

"Strong results from recent acquisitions and our expanding wealth management services delivered further profitable growth."

MF