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Results: MAB1

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EPIC MAB1
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Mortgage Advice Bureau – notes re-financing and market share “opportunities” but also a written business collapse

Mortgage Advice Bureau (MAB1) has issued a trading update noting adverse trading impact from the government’s recent manoeuvrings but also that its “re-financing opportunities from its client bank are at a record level for 2023… remains highly cash generative and retains a strong balance sheet”. So what of a now down towards 500p share price, £290 million market cap?

EPIC MAB1
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Mortgage Advice Bureau – things “very positive”. Really?...

Mortgage Advice Bureau (MAB1) has updated including “revenue for the six months ended 30 June 2019 increased by 5% (8% on an underlying basis) to £61m… in the second quarter of the year we have seen some improvement in banked conversion and continue to see these trends in July… encouragingly the majority of our Appointed Representatives continue to hold strong growth plans for 2019 and 2020”. Down from 700p+ reached last year, the shares though currently remain at circa 600p…

EPIC MAB1
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Mortgage Advice Bureau – AGM update argues ‘believes is ideally positioned’. Really?...

Mortgage Advice Bureau (MAB1) has updated including “adviser numbers have continued to grow… the majority of our Appointed Representatives continue to hold strong growth plans for 2019 and 2020… we believe MAB is ideally positioned to continue increasing its market share, and to focus on wider group success and profitability through new opportunities and broadening our addressable market”. The shares have currently responded, er, towards 580p – more than 5% lower…

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