REG - Mortgage Adv. Bureau - Business Update

Mortgage Advice Bureau (Holdings)Announcement

04/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250204:nRSD7488Va&default-theme=true

RNS Number : 7488V  Mortgage Advice Bureau (Hldgs) PLC  04 February 2025

 This announcement contains inside information for the purposes of Article 7
of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue
of the European Union (Withdrawal) Act 2018. The person responsible for this
announcement is Emilie McCarthy, CFO.

04 February 2025

 

Mortgage Advice Bureau (Holdings) plc

("MAB" or the "Group")

 

Business Update

 

New medium-term targets, capital allocation framework, dividend policy and
consideration of move to Main Market

 

Mortgage Advice Bureau (Holdings) plc (AIM: MAB1), a leading technology-driven
UK mortgage network and broker, today announces new medium-term targets,
capital allocation framework and dividend policy ahead of its Capital Markets
Day on 5 February 2025.

 

Capital Markets Day

Further to the announcement on 13 November 2024, MAB will host a Capital
Markets Day in London from 14:00 to 16:00 on 5 February 2025. The event will
be held at the London Stock Exchange and will be webcast live for those who
cannot attend in person. A copy of the presentation will be available on MAB's
website after the event.

 

The agenda includes:

Launch of MAB 2.0 vision and strategic priorities

Mortgage innovation opportunities

Regulation and Consumer Duty

Customer acquisition and lifetime value

Platform model, scalability and performance

Growth and capital allocation

Insights from our Appointed Representatives

 

If you would like to register your interest in the event, please contact
Camarco: mab@camarco.co.uk.

 

New medium-term targets, capital allocation framework and dividend policy

The Board today sets out the following medium-term growth targets, which will
be discussed in more detail at the Capital Markets Day:

1.   Double revenue from that achieved in 2024

2.   Adjusted PBT margin of >15%

3.   Cash conversion of >100%

4.   Double market share  i 

To support these growth objectives, the Board has approved a new capital
allocation framework that will replace our current payout-based dividend
policy with a progressive dividend policy that has no specific payout ratio
target. This new approach reflects our desire to optimise the mechanism by
which capital is returned to shareholders and ensure sufficient capital is
available to fund growth opportunities.

Under the new framework, we will formally review our capital position on an
annual basis. Capital will be allocated according to explicit return criteria.
Surplus capital that is not required to fund organic business investment,
ordinary dividends, or potential inorganic investment opportunities to support
our strategy will be returned to shareholders as additional returns over and
above ordinary dividends. Such distributions are expected to be made via share
buybacks or special dividends.

The Board will announce a proposed final dividend for 2024 in the Group's
final results release on 18 March 2025, which is expected to be at or above
the amount paid in 2024. In respect of 2025, the Board currently expects to
pay out approximately 50% of adjusted post-tax and minority interest profits,
with approximately one-third of the expected full-year dividend being paid
following the announcement of the Group's interim results (November 2025) with
the remaining two-thirds to be paid, if approved, following MAB's Annual
General Meeting (May 2026). The Board is committed to a progressive dividend
policy thereafter.

Consideration of move to Main Market

The Board is assessing the potential for the Company to move to the Equity
Shares (Commercial Companies) segment of the Official List, with the ambition
of meeting the criteria for inclusion in the FTSE 250 index. This move should
facilitate access to a broader group of investors and further enhance the
Group's profile. The Board is committed to ensuring that any move is a
responsible step, with the timing contingent on a continued strong
performance. Further updates will be provided as appropriate.

Peter Brodnicki, Founder and CEO of MAB, commented:

"MAB has been listed on the London Stock Exchange for just over a decade. In
that time, we have grown a market-leading, specialist network for mortgage
advisers whilst delivering positive returns for our shareholders.

2025 sees the start of the next stage of our journey with today's commitments
to grow the business significantly over the medium term for the benefit of our
shareholders and other stakeholders."

 

 

 

Enquiries:

 

 Mortgage Advice Bureau (Holdings) plc                         Via Camarco

 Peter Brodnicki, Chief Executive Officer

 Ben Thompson, Deputy Chief Executive Officer

 Emilie McCarthy, Chief Financial Officer

 Nominated Adviser and Joint Broker

 Keefe, Bruyette & Woods, a Stifel Company                       +44 (0)20 7710 7600

 Erik Anderson / Nick Harland / Francis North / Harry Billen

 Joint Broker

 Peel Hunt LLP                                                 +44 (0) 20 7418 8900

 Andrew Buchanan / Oliver Jackson

 Financial PR

 Camarco                                                       mab@camarco.co.uk (mailto:mab@camarco.co.uk)

 Tom Huddart / Louise Dolan / Letaba Rimell                    +44 (0) 203 757 4980

 Investor Relations                                            Investor.relations@mab.org.uk

 

About Mortgage Advice Bureau:

 

MAB is one of the UK's leading consumer intermediary brands and specialist
networks for mortgage advisers.

 

Through its partner firms known as Appointed Representatives ("ARs"), MAB has
approximately 2,000 advisers providing expert advice to customers on a range
of mortgage, specialist lending, protection, and general insurance products.
MAB supports its AR firms with proprietary technology and services, including
adviser recruitment and lead generation, learning and development, compliance
auditing and supervision, and digital marketing and website solutions.

 

For more information, visit www.mortgageadvicebureau.com
(https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttp-3A__www.mortgageadvicebureau.com_%26d%3DDwMF-g%26c%3DeuGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM%26r%3DNj006SAhpfJGzqX7TkdnFCOXt8K8HLR6t-m0tfk0sKk%26m%3DgFRfhF8o351YluA18Bjv7ycyKw7h2VVplazDY2IEW0sQ8C0AaYe1Qup_V9gmZQNd%26s%3DKfp85WcIcWHD48Cv6_MtN85WTzPhbcPhgoql1Us5h60%26e%3D&data=05%7C02%7CLetaba.Rimell%40camarco.co.uk%7C49fa9aa74f034fc9a49108dcfff2bf39%7C77a5f6209d7747dba0cd64c70948d532%7C1%7C0%7C638666665356187099%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=OvOcJHyFYzHfR6M9dFsyhwxgXQbIjrac6cGpXoERDmo%3D&reserved=0)

 

 

 i  Market share of new mortgage lending

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDGGDDIUGDGUX