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Trading statements

Mortgage Advice Bureau benefits from stamp duty change

25 July 2017 08:43

Mortgage Advice Bureau (MAB) increased revenue by 15% to £49 million in the first half, driven by a 14% increase in the average number of advisers to 974.

The total number of advisers had increased to 1,008 at 30 June 2017, an increase of 58 or 6% since 31 December 2016.

The company said it expects new business recruitment to be weighted to the second half of the year.

The average revenue per adviser increased by 9% due to the spike in buy-to-let applications resulting from the stamp duty changes in April 2016.

The company said current trading is in line with the board's expectations and that the remortgaging market both for residential and buy-to-let remains steady.

At 8:43am: (LON:MAB) Mitchells Butlers PLC share price was +0.5p at 227.7p

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