Companies: MTW   

Pensions consultant Mattioli Woods fancies high-grade corporate debt after increasing annual pre-tax profits 13 per cent to £3.5 million.

The Leicester-based company lifted revenue 20 per cent to £10.8 million in the year to May. Acquisitions helped this growth and executive chairman Bob Woods says there are more on the way.

He and chief executive Ian Mattioli argue that today’s recessionary climate is providing new business opportunities for AIM-quoted Mattioli Woods, which draws fees on successful asset allocations, rather than commissions on selling successful investment products, and is now steering clients into high-grade company bonds.

The AIM-quoted company argues that the recession will not be over soon, gilt yields will fall, defined benefit pension scheme deficits will continue to increase and interest rates will come down.

Mattioli says new business is ‘well up’, with the average scheme on which the company advises now £550,000 and rising.

‘We stay in the high net worth individual market,’ declares Woods, citing small and medium-sized business owners as typical clients.

Shares in Mattioli Woods doubled to £3 between 2005 and September last year. Now 276.5p, they should weather the storm better than most.

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Mattioli Woods	AIM	£36.9m	214.00p	-16.00p
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Woods on the prowl			02/06/2008
More to come from Mattioli Woods			03/03/2008
Mattioli Woods			21/02/2008
Vyke dials up the numbers			05/10/2007