Mortgage Advice Bureau announce a proposed final dividend of 19.2p (payout ratio of 75% on adjusted profit after tax(2)), making proposed total dividends for the year of 25.6p (2019: 17.5p)
Other financial highlights include:
● Revenue up 3% to £148.3m (2019: £143.7m), including £14.7m of revenue generated by First Mortgage Direct Limited ("First Mortgage")
●Gross profit up 9% to £39.8m (2019: £36.4m)
●Gross profit margin up 6% to 26.9% (2019: 25.3%)
●Adjusted overheads ratio of 14.5% (2019: 12.4%)
●Adjusted profit before tax down 5% to £17.8m (2019: £18.7m)
●Statutory profit before tax down 16% to £14.9m (2019: £17.7m)
●Adjusted profit before tax margin of 12.0% (2019: 13.0%)
●Reported profit before tax margin of 10.0% (2019: 12.3%)
●Adjusted EPS down 5% to 28.6p (2019: 30.1p)
●Basic EPS down 16% to 23.7p (2019: 28.2p)
●Continued high operating profit to adjusted cash conversion(3) of 112% (2019: 119%)
