Investments 

Mattioli Woods to continue on acquisition trail

Mattioli Woods to continue on acquisition trail

A brace of acquisitions and “sustained demand for advice” helped Mattioli Woods grow its revenue by 17.4 per cent in the year to the end of May.

The Leicestershire-based company posted revenue of £50.5m for the period covered by these results, compared with £43m for the previous year.

Organic revenue growth of 11.5 per cent was complemented by the acquisitions of MC Trustees and a 49 per cent stake in Amati, a fund management company based in Scotland.

Mattioli Woods saw its profits increase from £5.2m to £6.3m as its chief executive said acquisitions are a "core" of the business.

Total client assets grew to £7.77bn, compared with £6.61bn for the same period last year, an increase of 17.5 per cent. The assets under management of the discretionary wealth management business were £1.6bn, an increase of 39 per cent.

Ian Mattioli, chief executive of Mattioli Woods, said: “Sustained demand for advice and the continued development of our investment and asset management proposition have driven strong new business flows, which together with acquisitions completed in the current and prior financial year increased total client assets under management, administration and advice by 17.5 per cent.

He added: “Acquisitions remain a core part of our growth strategy. In September 2016, we were pleased to acquire MC Trustees, bringing additional scale and expertise to our pension administration business and the group’s strategic investment in Amati in February 2017 brings a new dimension to our asset management business."

Amati’s total funds under management increased from £120m at acquisition to more than £178m today.

The company operates the Custodian Real Estate Investment Trust (REIT), which raised £76m over the course of the year. Mattioli Woods launched a fund to invest in structured products, and this raised £96m.

The dividend increased to 14.1p, a rise of 12.8 per cent on the previous year.