Another set of excellent results says MAB

Mortgage Advice Bureau today  announced their interim results for the six months ended 30 June 2017. Revenue up 15% to £49.6m  with gross profit up 20% to £12.0m.

Market share was up 10% to 4.4% with gross mortgage lending up 9% to £5.2bn.

Peter Brodnicki, Chief Executive commented: 

“I am delighted to report another set of excellent results, with profit before tax up 19%, improved margins and market share increasing by 10% compared to the same period last year.  We also continue to enjoy a strong financial position.

“MAB has never been better positioned in terms of the quality of distribution that we continue to attract, the calibre and breadth of the management team that we have strengthened, and the fast pace of fintech developments that we are achieving.

“Our strategy is designed to deliver speed, ease and convenience which will further enhance our customer, AR, and adviser propositions. In an ever-evolving world of digitisation, MAB’s goal is to combine the very best of digital customer solutions, telephony and face to face advice with the customer in control of how they research, receive advice and transact.  This will enable us to continue growing our market share, whilst leading the evolution of intermediary distribution that we expect to see over the next five years.”

Publication of full interim results for the six months ended 30 June 2017 can be viewed at MAB Investor Relations

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Industry reacts as Landlords to be hit with N.I tax

The Government is considering a major change to the way landlords are taxed, with Chancellor Rachel Reeves weighing up plans to apply National Insurance (NI) contributions to rental income as part of her upcoming Autumn Budget. Currently, rental income is subject to income tax but not NI. However, by expanding NI to cover this additional…
Read More
Overseas Property

Brits Are Flocking to Australia in 2025 

The end of summer is always a busy time for international moves, and 2025 is no exception. So far this year, the number of people planning to move abroad has risen by 11% compared to the first half of 2024, according to Compare My Move.  What’s changed is where Brits are choosing to go. Australia…
Read More
Breaking News

UK reports rising property market momentum

eXp UK reports rising property market momentum as sellers return and more sales are agreed The latest internal data from eXp UK has revealed that housing market momentum is continuing to build, with more homes coming to market and a greater number of sales being agreed. eXp UK analysis is based on the firm’s own…
Read More
Breaking News

Homes priced too high take twice as long to sell warns Zoopla

House price growth stabilises over summer months House price growth has slowed over recent months, although this slowdown looks to have stabilised with average house prices 1.3 per cent higher than a year ago Sales agreed are up five per cent on last year, although speculation on possible  tax changes may impact homes valued at…
Read More
Estate Agent Talk

Why September is the Most Expensive Month for Your Boiler

As households prepare to switch their boilers back on after summer, heating engineers are warning that September is often the most expensive month of the year for boiler breakdowns, repairs, and inefficiency. Rob Jones, heating engineer at UK Radiators, explains: “After months of being idle, boilers are suddenly put under pressure when temperatures drop in…
Read More
Estate Agent Talk

What AI Can and Can’t Fix in Block Management

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG In an industry increasingly shaped by regulation, rising expectations and squeezed margins, the promise of AI and automation in block management is understandably appealing. The idea of freeing property managers from repetitive tasks, improving compliance, and streamlining communication offers significant operational value.…
Read More