Business
Final Results for the year ended 31 December 2018
Final Results for the year ended 31 December 2018.
About this update from Mortgage Advice Bureau (holdings) Plc
[{"type":"text","content":"\n \nRNS Number : 2209T Mortgage Advice Bureau(Holdings)PLC 19 March 2019 \n\n19 March 2019\nMORTGAGE ADVICE BUREAU (HOLDINGS) PLC\n(\"MAB\" or \"the Group\")\nFinal results for the year ended 31 December 2018\nMortgage Advice Bureau (Holdings) PLC (AIM: MAB1.L) is pleased to announce its final results for the year ended 31 December 2018.\nFinancial highlights\n· Tenth consecutive year of strong revenue and profit growth\n· Revenue up 13% to £123.3m (2017: £108.8m)\n· Gross profit up 10% to £28.4m (2017: £25.9m)\n· Gross margin of 23.1% (2017: 23.8%)\n· Overheads ratio of 10.7% (2017: 10.9%) \n· Profit before tax up 8% to £15.7m (2017: £14.5m)\n· Profit before tax margin of 12.7% (2017: 13.4%)\n· Basic EPS up 9% to 25.9p (2017: 23.8p)\n· Continued high operating profit to adjusted cash conversion1 of 113% (2017: 109%)\n· Proposed final dividend of 12.7p making proposed total ordinary dividends for the year of 23.3p (2017: 21.4p), up 9% (payout ratio of 90%)\nOperational highlights\n· Average number of Advisers in 2018 up 12% to 1,130 (2017: 1,008)\n· Adviser numbers up 13% to 1,213 at 31 December 2018 (2017: 1,078)\n· Revenue per Adviser up 1%2\n· Gross mortgage lending arranged (including product transfers) up 18% to £14.0bn (2017: £11.9bn)\n· Gross mortgage lending arranged with new lenders3 up 14% to £12.7bn (2017: £11.2bn4)\n· Market share of new mortgage lending up 10% to 4.7% (2017: 4.3%5)\nPost period end\n· Adviser numbers have increased to 1,234 at 15 March 2019\nPeter Brodnicki, Chief Executive commented: \n \"I am delighted to report another set of strong results. Despite continued political uncertainty we have achieved robust growth in revenue, up 13% to £123m, which has translated into strong growth in EPS up 9% to 25.9p. Accordingly, the Board is pleased to propose the payment of an increased final dividend of 12.7p per share, making total proposed ordinary dividends for the year of 23.3p, up 9% on the prior year.\n\"MAB continues to deliver on its strategy to grow market share in all m...