Mortgage Advice Bureau beats own guidance with H1 results
Mortgage Advice Bureau (Holdings) Plc 's share price jumped on Tuesday after the UK mortgage network and broker delivered first-half results slightly ahead of guidance and gave an upbeat assessment of the industry.
The company reported revenues of £148.2m for the six months to 30 June, up 19.6% over last year and marginally above the £147m guided to in a trading update in July.
Adjusted pre-tax profit improved 18.4% to £14.5m, ahead of the £14m guidance.
Results were supporting by a jump in overall new mortgage lending, with the total industry lending £134bn during the period, up 22% on last year, as the recovery continued to accelerate following a 7% increase in lending across 2024 as a whole.
Momentum has also been helped by many house purchases being fast-tracked to the first quarter ahead of the planned reduction in Stamp Duty relief from April onwards.
MAB's total mortgage completions rose by 17% to £14.2bn in the first half, which it said "significantly outperform[ed] the market".
Looking ahead, the company said that housing demand is expected to strengthen through the second half of 2025 and into 2026, "supported by greater lender stress-test flexibility, improved affordability, and sharp increases in product maturities".
MAB said it was trading in line with expectations for the second half.
"The impact of past economic shocks is now receding for both borrowers and lenders, creating a more stable operating environment. While uncertainty ahead of the November 2025 Budget may weigh on market sentiment in the near term, certain housing policy measures under discussion could provide opportunities for both MAB and our customers."
The stock was up 8.5% at 738p by 1022 BST.
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