Updates

Mortgage Advice Bureau - Advisor numbers ahead of forecasts

November 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Interims from Mortgage Advice Bureau were as good as we expected with revenues up 28% to £31.2m and pretax profit rising 16% to £3.9m. Eps increased 24% to 6.5p while a maiden interim dividend of 4.9p was declared. Cash balances were £11.5m (31 December ’14: £9.3m) of which unrestricted cash was £6.9m (31 December ’14: £5.3m). Post period end the group has also purchased the freehold of its head office building for £2.4m.The market backdrop remains strong with intermediary market share continuing to rise to 69%, while new lenders continue to enter the market with highly intermediary-focused business models. Management are confident that the Council for Mortgage lenders’ fo ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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