Mattioli Woods FY profit and revenue grow, dividend lifted 13%

AIM-listed wealth manager Mattioli Woods reported a jump in pre-tax profit and revenue for the year on Tuesday as it lifted its dividend and expressed confidence over the outlook.

In the year to 31 May, pre-tax profit rose to £7.6m from £6.3m on revenue of £50.5m, up from £43m the year before. Meanwhile, assets under management were up 18% to £7.7bn as sustained demand for advice and the continued development of the group's investment and asset management proposition drove strong new business flows, and thanks to acquisitions completed in the current and prior financial year.

The company lifted its total dividend for the year by 13% to 14.1p per share.

Chief executive officer Ian Mattioli said: "Our focus remains on ensuring the group addresses our clients' changing needs and we continue to broaden our proposition through advice and innovative product development such as the Mattioli Woods Structured Products Fund, organically and by acquisition.

"We believe our capabilities as trusted adviser, administrator, product provider and asset manager allow us to deliver improved and sustainable client outcomes. I look forward to us building upon our success over the last 25 years to deliver further value for our shareholders."

At 0950 BST, the shares were up 1.3% to 862p.