Mattioli Woods propose an increased final dividend of 18.0p per share (2022: 17.8p), making a proposed total dividend for the year of 26.8p, up 2.7% (2022: 26.1p)
Other financial highlights include:
Total client assets of the Group and its associate rose 2.7% to £15.3bn (2022: £14.9bn);
Revenue increased 2.8% to £111.2m (2022: £108.2m) driven by combination of:
- Continued organic revenue growth of 3.7% to £75.7m (2022: £72.9m) partially offset by the market impact on ad valorem, placement and performance fees;
- Positive contribution from acquisitions up 0.7% to £35.5m (2022: £35.3m);
- Increased total value of new client wins up 14.6% reflecting business development initiatives;
- Improved new client lead generation with increased new business pipeline up 16.2% versus prior year;
Recurring revenues represent 90.9% (2022: 86.8%) of total revenue, reflecting quality of organic growth underpinned by long-term client relationships;
Adjusted EBITDA increased 1.8% to £33.2m (2022: £32.6m);
Adjusted EBITDA margin of 29.8% (2022: 30.1%);
