Mortgage Advice Bureau (Holdings) plc has issued a pre-close trading update for its financial year ended 31 December 2015, ahead of publishing its final results on 22 March 2016.
The group said activity levels have continued to be high, with revenue continuing its upward trend. In the year ended 31 December 2015, MAB generated revenue of £75m, representing a 33% increase over 2014.
At 31 December 2015, the company had a balance sheet cash position of £14m, including over £8m of unrestricted cash balances.
MAB has continued its ongoing recruitment of advisers and appointed representative (AR) firms. The number of advisers had increased to 790 at 31 December 2015, an increase of 156 or 25% since last year end (634 at 31 December 2014). The average number of advisers in the 12 months to 31 December 2015 was 720, an increase of 139 or 24% on the average number of advisers in the 12 months to 31 December 2014 of 581.
Peter Brodnicki, CEO of Mortgage Advice Bureau (Holdings) plc, said: “I am delighted with our performance in our first full year post IPO. This is our seventh consecutive year of strong profit growth, demonstrating our understanding of the market in which we operate and our focus on building a high quality business with sustainable profitability.”