Mattioli Woods profits dip as group awaits DFM approval

The group, whose main business line is pensions consultancy, said adjusted profit before tax was £2m in the period, down from £2.4m in the first half of last year. This is despite a 17% increase in revenue to £8.7m and a 29% rise in assets under advice, which rose to £2.86bn. "We had anticipated a contraction in margin as we invest in the business to secure continued growth, which was coupled with a slowdown in investment activity in the first half," executive chairman Bob Woods said. He added the group expects increased activity in the second half of the financial year. In Augu...