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Mattioli Woods PLC on Tuesday said its half-year revenue rose despite a macroeconomic backdrop that continues to impact client sentiment.
The Leicester, England-based specialist wealth and asset management business said revenue rose 7.7% to £59.1 million in the six months to November 30 from £54.9 million a year prior.
Further, it noted organic revenue growth of 4% and a ‘robust’ new business pipeline.
Chief Executive Officer Ian Mattioli said: ‘I am pleased to report revenue growth in the first six months of this financial year, despite the challenging macroeconomic backdrop that continues to affect client sentiment and market value of clients’ assets.’
Looking ahead, the company expects that the current year remains in line with its own expectations.
CEO Mattioli said: ‘Consolidation in the wealth and asset management sector continues and we have a robust pipeline of bolt-on acquisition opportunities to review. Previously acquired businesses are integrating well, with synergies being realised and new cross-selling opportunities identified.’
The company will release its half-year results on February 6.
Mattioli Woods shares fell 3.7% to 578.00 pence each on Tuesday morning in London.
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