Mortgage Advice Bureau makes £6.88m
Before the cost of its initial public offering in November and the allowance for bad loans the MAB made £7.97m.
The adviser firm upped its revenues by 41% to £56.6m. Of this amount 42% came from mortgage procuration fees, 41% from insurance commission and 16% from client fees.
The MAB also increased its adviser count by 22% from the year before to 634.
Peter Brodnicki, chief executive of the MAB, said: “I am pleased to report that despite the obvious time commitment by senior management that went into our successful listing on AIM in November, the group enjoyed a record year in terms of both revenues and profits.
“MAB’s strategy is to deliver strong revenue growth and attractive returns to investors by continuing to expand its network and leverage its scalable model.”