Business
Final Results for the year ended 31 December 2022
Final Results for the year ended 31 December 2022.
About this update from Mortgage Advice Bureau (holdings) Plc
[{"type":"text","content":"\n \n \n MORTGAGE ADVICE BUREAU (HOLDINGS) PLC\n \n \n (\"MAB\" or \"the Group\")\n \n \n 28 March 2023\n \n \n Final Results for the year ended 31 December 2022\n \n \n Mortgage Advice Bureau (Holdings) plc (AIM: MAB1.L) is pleased to announce its final results for the year ended 31 December 2022.\n \n \n \n Financial highlights\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n 2021\n \n \n \n \n Change\n \n \n \n \n \n \n Revenue\n \n \n \n \n £230.8m\n \n \n \n \n £188.7m\n \n \n \n \n +22%\n \n \n \n \n \n \n Gross profit\n \n \n \n \n £62.9m\n \n \n \n \n £51.0m\n \n \n \n \n +24%\n \n \n \n \n \n \n Gross profit margin\n \n \n \n \n 27.3%\n \n \n \n \n 27.0%\n \n \n \n \n +0.3pp(1)\n \n \n \n \n \n \n Administrative expenses ratio*\n \n \n \n \n 15.6%\n \n \n \n \n 14.8%\n \n \n \n \n +0.8pp\n \n \n \n \n \n \n Adjusted EBITDA*\n \n \n \n \n £29.1m\n \n \n \n \n £25.3m\n \n \n \n \n +15%\n \n \n \n \n \n \n Adjusted profit before tax*\n \n \n \n \n £27.2m\n \n \n \n \n £24.2m\n \n \n \n \n +13%\n \n \n \n \n \n \n Statutory profit before tax\n \n \n \n \n £17.4m\n \n \n \n \n £23.2m\n \n \n \n \n -25%\n \n \n \n \n \n \n Adjusted profit before tax margin*\n \n \n \n \n 11.8%\n \n \n \n \n 12.8%\n \n \n \n \n -1.0pp\n \n \n \n \n \n \n Adjusted profit before tax as a percentage of net revenue*\n \n \n \n \n 34.0%\n \n \n \n \n 41.0%\n \n \n \n \n -7.0pp\n \n \n \n \n \n \n Statutory profit before tax margin\n \n \n \n \n 7.5%\n \n \n \n \n 12.3%\n \n \n \n \n -4.8pp\n \n \n \n \n \n \n Adjusted EPS*\n \n \n \n \n 37.8p\n \n \n \n \n 37.1p\n \n \n \n \n +2%\n \n \n \n \n \n \n Basic EPS\n \n \n \n \n 21.8p\n \n \n \n \n 35.2p\n \n \n \n \n -38%\n \n \n \n \n \n \n Adjusted cash conversion*\n \n \n \n \n 105%\n \n \n \n \n 113%\n \n \n \n \n -8pp\n \n \n \n \n \n \n Proposed final dividend\n \n \n \n \n 14.7p\n \n \n \n \n 14.7p\n \n \n \n \n -\n \n \n \n \n \n \n \n \n \n \n \n \n Operational highlights\n \n \n \n \n \n \n \n ●\n \n \n \n \n Adviser numbers up 20% to 2,254(2) at 31 December 2022 (2021: 1,885), including 2,074 mainstream(3) advisers (2021: 1,774)\n \n \n \n \n \n \n ●\n \n \n \n \n Average number of mainstream advisers(3) up 21% to 1,988 (2021: 1,649)\n \n \n \n \n \n \n ●\n \n \n \n \n Revenue per mainstream adviser(3) up 1% to £116.1k\n \n \n \n \n \n \n ●\n \n \n \n \n Gross mortgage com...