Wealth manger Mattioli Woods has posted pre-tax profits of £5.1 million for the full year ended 31 May 2014, an increase of 11% from £4.6 million reported a year ago.
Revenue increased 25% to £29.3 million from £23.4 million in 2013, while total client assets surged by 27% to £4.6 billion from £3.6 billion a year ago.
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The wealth management business reported a 39.4% jump in revenues, including a significant increase from the acquisition of Atkinson Bolton.
Income from wealth management represented 30.6% of the group’s total revenues.
The results led the firm to propose a dividend hike of 30 per cent to 9.1p.
Commenting on the performance, executive chairman Bob Woods said the company was delighted with its growth and is eyeing acquisitions to grow further.
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By GlobalData‘With increasing complexity and continuing consolidation in both the Sipp and other key sectors in which we operate, we are confident there will be new opportunities to expand Mattioli Woods’ operations, both organically and by acquisition,’ he said.
Also, Mattioli Woods appointed Alan Fergusson to the executive board as employee benefits director with immediate effect.
Carol Duncumb also joins the board as non-executive director with immediate effect.
