UK's Mortgage Advice Bureau dives as annual profit forecast misses estimates
BUZZ-UK's Mortgage Advice Bureau dives as annual profit forecast misses estimates ** Shares in Mortgage Advice Bureau MAB1.L down 21% at 388p, their lowest levels in nearly 6-1/2 years
** Stock bottoms FTSE small-caps index .FTSC
** The property finance platform forecasts annual profit below market expectations on no view of meaningful recovery in purchase activity in short term
** MAB1 expects annual adjusted pretax profit of £38 million ($51.53 million), behind average consensus of £43.4 million
** Company says the contribution from mortgage and specialist lending intermediary Fluent, in which it acquired a majority stake in 2022, would be lower than previously anticipated after an expected increase in new lead flows was delayed
** Stock down ~43% so far this year
($1 = 0.7375 pounds)
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com ; +91 98052 24616))