Mortgage Advice Bureau (MAB), a mortgage network and broker, “achieved strong financial growth in 2024,“ as revenue and profit rose.
According to the Derby firm’s final results for the year ended 31 December 2024, revenue reached £266.5m – up 11.3% from £239.5m in 2023.
Adjusted profit before tax, meanwhile, was up 38% to £32m, from £23.2m in 2023.
The business also saw gross mortgage completions grow 3.9% to £26.1bn.
Following the strong results, MAB is now evaluating a potential transition to the Main Market of the London Stock Exchange.
Peter Brodnicki, founder and Chief Executive, said: “MAB achieved strong financial growth in 2024 and, by doing so, maintained its long track record of outperformance and market share growth in all market conditions.
“Strategic spend on technology and digital marketing continued to increase, supporting our plans to deliver a higher level of sustainable growth and futureproof our operations. Aligning our business model to evolving customer preferences for research, advice and seamless transactions will enable advisers to access more potential customers and retain an increasing number of existing ones.
“In February, we hosted a Capital Markets Day, during which my team and I set out MAB’s vision to become our customers’ leading financial partner through life’s key moments and demonstrated the significant progress we have made in adapting and evolving our business model to achieve a far wider consumer reach, drive greater lead flows, and increase productivity, efficiency, and margins.
“MAB has been listed on AIM for just over a decade. During that time, we have built a market-leading, specialist network for mortgage advisers while returning over £125m in dividends to shareholders – greater than our market capitalisation at IPO. The Board is now evaluating the potential transition to the Main Market of the London Stock Exchange, which should provide access to a broader investor base and further enhance the Group’s market profile.
“2025 has begun strongly and in line with expectations, with many AR firms anticipating growth in adviser numbers this year while maintaining a focus on increasing profitability through higher productivity. We also have the opportunity to scale our invested businesses and build upon the impressive adviser productivity levels they are already achieving to deliver strong and sustainable shareholder returns over the long term.”
