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.

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