Mattioli Woods down even as it returns to growth

The share price of AIM-listed wealth management and benefits company Mattioli Woods (LON:MTW) dropped by 2.63% to 793.55p (as of 15:05 GMT) despite the company reporting that margins for the year had improved after restructuring. The company said that revenues and EBITDA had also seen growth.

Chief Ian Mattioli commented: “I am pleased to report a return to revenue growth in the first half of this financial year, with increases in direct SSAS and SIPP fees and investment-related revenues. We have achieved this despite continued market and political uncertainty, albeit this uncertainty resulted in lower net inflows into the Group’s bespoke investment services than in the equivalent period last year.

“We are dedicated to maintaining our culture of putting clients first, developing our service offering and building a business that is sustainable over the long term. Supporting this, we have driven some further margin improvement, with additional efficiencies and cost savings realised following a planned restructure of our client facing operations and the migration of acquired pension portfolios onto our bespoke MWeb administration platform. These changes have been designed to enhance client service and experience, receiving positive feedback both internally and from clients“.