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Mortgage Advice Bureau sees 'considerable' rise in first-quarter profits
StockMarketWire.com
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Home-loan advisory group Mortgage Advice Bureau said its profits had improved 'considerably' in the first quarter.
'This positive momentum has continued into the second quarter and trading continues to be strong,' chairman Katherine Innes Ker said in annual general meeting speech notes.
'Current trading is in line with the board's expectations,' she added.
Ker said Adviser numbers have continued to grow since the company's final results statement on 23 March, climbing to 1,6681 by 21 May, an increase of 6% year-to-date.
Mortgage completions in the first quarter were £5.3 billion, up 26% year-on-year.
'We are pleased with this strong performance and the increase in both written and banked adviser productivity,' Ker said.
"Activity levels in the housing market have continued to be high throughout April and May. '
'In addition, the underlying fundamentals driving consumer demand for housing purchase remain unchanged.'
Story provided by StockMarketWire.com
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