Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Specialist wealth and asset management business Mattioli Woods said its annual profit more than halved after a rise in revenue was offset by acquisition and staff costs.
Pre-tax profit for the year through May dropped to £5.1 million, down from £12.7 million year-on-year, even as revenue rose 7% to £62.6 million.
Mattioli Woods declared a full-year dividend of 21p per share, up 5% year-on-year.
'The easing of lockdown restrictions and continued roll out of the Covid-19 vaccination programme are beginning to support investor confidence,' chief executive Ian Mattioli said.
'Investment markets have partially recovered from the weakness seen at the outset of the Covid-19 pandemic but look likely to remain volatile for some time.'
'This provides a significant opportunity for Mattioli Woods, as people seek to take charge of their financial affairs and manage wealth through the generations.'