Business
Final Results for the year ended 31 December 2024
Final Results for the year ended 31 December 2024.
About this update from Mortgage Advice Bureau (holdings) Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for this announcement is Emilie McCarthy, CFO.\n18 March 2025\nMortgage Advice Bureau (Holdings) plc\n(\"MAB\" or the \"Group\")\n \nFinal Results for the year ended 31 December 2024\nMortgage Advice Bureau (Holdings) plc (AIM: MAB1), a leading technology-driven UK mortgage network and broker, is pleased to announce its final results for the year ended 31 December 2024.\nFinancial summary\n\n\n\n\n\n\n\n2024\n\n\n2023\n\n\nChange\n\n\n\n\nRevenue\n\n\n£266.5m\n\n\n£239.5m\n\n\n+11.3%\n\n\n\n\nGross profit / Margin\n\n\n£81.9m / 30.7%\n\n\n£70.2m / 29.3%\n\n\n+16.7% / 1.4pp\n\n\n\n\nAdmin expenses / Admin expenses ratio*\nexpenses \n\n\n£50.5m / 19.0%\n\n\n£46.7m / 19.5%\n\n\n+2.7% / -0.5pp\n\n\n\n\nAdjusted PBT* / Adjusted PBT Margin*\n\n\n£32.0m / 12.0%\n\n\n£23.2m / 9.7%\n\n\n+38.0% / +2.3pp\n\n\n\n\nStatutory PBT / Statutory PBT Margin\n\n\n£22.9m / 8.6%\n\n\n£16.2m / 6.8%\n\n\n+41.5% / +2.2pp\n\n\n\n\nAdjusted diluted EPS*\n\n\n39.2p\n\n\n29.6p\n\n\n+32.4% / +9.6p\n\n\n\n\nBasic EPS\n\n\n27.6p\n\n\n23.6p\n\n\n+17.0% / +4.0p\n\n\n\n\nAdjusted cash conversion*\n\n\n120%\n\n\n119%\n\n\n+1.0pp\n\n\n\n\nNet debt* / Leverage*\n\n\n(£9.7m) / 0.3x\n\n\n(£15.2m) / 0.6x\n\n\n+£5.5m / -0.3x\n\n\n\n\nProposed final dividend\n\n\n14.8p\n\n\n14.7p\n\n\n +0.4% / +0.1p\n\n\n\n\n \nPerformance highlights\n· Adjusted profit before tax (PBT) up 38.0% to £32.0m (2023: £23.2m)\n· Gross mortgage completions1 (including Product Transfers) up 3.9% to £26.1bn (2023: £25.1bn)\n· Market share of new mortgage lending1 up to 8.4% (2023: 8.3%)\n· Closing mainstream advisers2 up 1.2% to 1,941 (2023: 1,918). The number of mainstream advisers2 at 14 March 2025 was 1,985\n· Revenue per mainstream adviser2 up 12.3% to £138.7k (2023: £123.5k)\n \n* In addition to statutory reporting, MAB reports alternative performance measures (APMs) which are not defined or specified under the requirements of International Financial Reporting Standards (IFRS). The Grou...