Mortgage Advice Bureau H1 revenue rises on strong refinancing activity
Mortgage Advice Bureau H1 revenue rises on strong refinancing activity
Overview
UK property finance platform's H1 revenue rose 8% yr/yr amid volatile mortgage market
Adjusted pretax profit for H1 was stable, with margin impacted by shift in mortgage mix
Company expects full-yr results in line with expectations, with H2 profitability to increase
Outlook
Company expects full-year results to be in line with expectations
Company sees strong visibility over 70k fixed-rate mortgage maturities in H2 to support refinancing
Profitability in 2026 expected to be more heavily weighted towards H2 than prior years
Result Drivers
REFINANCING ACTIVITY - Strong refinancing and product transfer activity drove mortgage completions and revenue growth, as purchase lending remained subdued
SHIFT IN BUSINESS MIX - Increased weighting towards remortgages and product transfers led to slower growth in protection policy volumes and reduced margins
MORTGAGE PRICING VOLATILITY - Volatility in mortgage pricing required advisers to spend more time securing outcomes for customers, impacting productivity
Company press release: ID:nRSW4750Na
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 160 mln |
|
H1 Adjusted Pretax Profit |
| GBP 14.60 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy"
Wall Street's median 12-month price target for Mortgage Advice Bureau (Holdings) PLC is GBp1,150.00, about 112.6% above its July 22 closing price of GBp541.00
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)