The Mattioli Woods Boards is to announce an increased interim dividend of 8.3p per share (1H21: 7.5p) up 10.7%, demonstrating their desire to deliver value to shareholders and confidence in the financial outlook for their business. The Board remains committed to growing the dividend, while maintaining an appropriate level of dividend cover. The interim dividend will be paid on 25 March 2022 to shareholders on the register at the close of business on 18 February 2022, having an ex-dividend date of 17 February 2022.
Other financial highlights include:
Key milestone achieved with total client assets of the Group and its associate increasing £4.5bn, or 43%, against the equivalent prior period to £15.1bn (1H21: £10.6bn) driven by largest acquisitions to date; Revenue increased to £49.9m (1H21: £29.5m) +69.1% driven by:
- Positive contribution from acquisitions of £19.4m (1H21: £2.0m);
- Return of strong organic growth of +11.1% (1H21: (9.6%)) adding +£3.1m revenue driven by positive performance in pension consultancy and administration and investment and asset management operating segments; and
- Increased new client wins of 515 (1H21: 316).
Recurring revenues represent 87.7% (1H21: 94.3%) of total revenue;
Operating profit before financing £2.8m (1H21 restated: £3.9m) down 26.7% due to acquisition-related costs;
Adjusted EBITDA up 76.9% to £15.8m (1H21: £8.9m);
Adjusted EBITDA margin increased to 31.6% (1H21 restated: 30.2%);
Adjusted profit before tax up 95.9% to £14.1m (1H21 restated: £7.2m);
Basic EPS 3.5p (1H21 restated: 11.4p) down 69.3%;
Adjusted EPS up 13.3% to 23.8p (1H21 restated: 21.0p);
Strong financial position, with cash of £44.3m at 30 November 2021 (1H21: £18.2m).
