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  • 08 Feb 22
Interims in line, encouraging organic activity

Interims are in line with expectations. The organic growth momentum described in recent updates has contributed +11% yoy to H1 revenues and has continued into H2. Maven and Ludlow – acquired in H1 – are performing ahead of expectations with a positive near term outlook. We note MW’s strong earnings quality: 90% recurring revenue and 50% revenue from time-costed/fixed fees. We make no material changes to forecasts. We reiterate our BUY and 1054p 12m Target Price (17x FY23e PER – first full year c

Companies: Mattioli Woods plc
  • 08 Feb 22
In-line performance at H1'22 stage


Companies: Mattioli Woods plc
  • 20 Jan 22
The Big Book 2022 - Extended Coverage & Best Ideas

The Big Book 2022 includes our highest conviction Best Ideas for 2022. In 2021 our Best ideas outperformed by 24%, extending our track record (>10% outperformance on average over the past decade). We have again divided our coverage into six distinct themes to create our Matrix. We have added two new categories this year: ESG and Pricing Power, both of which will be fundamental investment themes for 2022. We look forward to discussing our ideas with you.

Companies: ADT ART GFRD G4M HSP INHC MTW MERC RCH VLX WIN YGEN

  • 06 Jan 22
H1'22 trading update in line


Companies: Mattioli Woods plc
  • 06 Jan 22
Strong organic growth momentum, earnings in line

MW has provided additional colour on H1 trading. £49.9m revenue reflects 10%+ organic growth from new business initiatives. This is better than expected with 50% of our revenue forecast already covered and a more normal H2 seasonality likely “post-COVID”. This prompts a 3-4% revenue upgrade. However, MW continues to invest in long-term growth initiatives and is aiming to sustain a c.30% adj. EBITDA margin in FY22e – so we leave our earnings forecasts unchanged. With strong earnings quality from

Companies: Mattioli Woods plc
  • 17 Dec 21
Hybridan Small Cap Feast 17/12/2021

Joiners: Following a reverse takeover Anemoi International joins the Main Market. Leavers: Prophotonix leaves AIM. What’s cooking in the IPO kitchen? Hydrogen Utopia International PLC (HUI), to join Access Segment of the Aquis Stock Exchange. The company aims to become one of the leading new European companies specialising in turning Non-Recyclable Mixed Waste Plastic into carbon-free fuels, new materials or distributed renewable heat. HUI’s activities will range across the full value chain, fro

Companies: TGP SAR RBBS PPC CRC LVCG MTW OBD

  • 17 Dec 21
FLASH: Trading update in-line


Companies: Mattioli Woods plc
  • 17 Dec 21
In line HY update, organic momentum sustained

Mattioli Woods has issued an in line H1 trading update. Momentum has continued through the first half with >10% underlying organic revenue growth driven by higher net inflows and new client acquisition. Recent acquisitions (Maven, Ludlow) are both performing ahead of budget and expected synergies already emerging. We make no change to our estimates at this stage. We set a 1054p 12m Target Price using a 17x FY23e PER (the first full year contribution from both Maven and Ludlow) and ascribe a BUY

Companies: Mattioli Woods plc
  • 04 Nov 21
Introducing FY24 forecasts


Companies: Mattioli Woods plc
  • 29 Oct 21
AGM Statement - double digit organic growth

Mattioli Woods’ (“MW”) AGM statement shows strong performance by the Group in the first four months of FY22e. Organic growth has been >10% - commendable in the face of ongoing market volatility – with net inflows into Investment and Asset Management also ahead YoY. New clients on-boarded in the period, and the new business pipeline are both similarly ahead vs. the comparative – underlining future growth trajectory. Integration of all recent acquisitions has been pleasing, with performance of the

Companies: Mattioli Woods plc
  • 21 Sep 21
Slight FY21 results beat


Companies: Mattioli Woods plc
  • 21 Sep 21
Strong finals, optimism as growth momentum builds

Mattioli Woods (“MW”) has posted solid final results showing a beat (+9% vs SCMe) at the key adj. EBITDA level. Momentum is building: revenue growth in H2 was +12% vs H1 with a positive quarterly progression. This is encouraging for FY22e, which has started strongly (+10% Q1). Recent acquisitions are being integrated and offer a material step up in scale and earnings. We leave forecasts unchanged at this early juncture, noting potential for upside if trends are sustained. Once a full contributio

Companies: Mattioli Woods plc
  • 27 Aug 21
Richings: modest yet accretive bolt-on from pipeline

Mattioli Woods has completed the small bolt-on acquisition of Richings – a £70m AuA financial planning business in Buckinghamshire. It is expected to be modestly earnings accretive in the first full year. Richings was one of the targets outlined as part of the recent £112m placing; which provided funding for the acquisitions of Maven, Ludlow and a four target bolt-on pipeline, of which Richings was one. We make no immediate changes, not expecting any material revisions (Richings generated only £

Companies: Mattioli Woods plc
  • 26 Jul 21
Forecasts upgraded


Companies: Mattioli Woods plc
  • 06 Jul 21
Update suggests in-line FY21 results


Companies: Mattioli Woods plc

Mattioli Woods plc

Company Profile

  • Personnel
  • Ian Thomas Mattioli, CEO
  • Nathan James McLean Imlach, CFO

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Mattioli Woods plc. We currently have 126 research reports from 6 professional analysts.

  • Open: 745p
  • Range Today: 740/751p
  • 52 Week: 675/908p
  • Daily Volume: 26.9k
  • Daily Liquidity: 0.05%
  • # Shares: 51.0m
  • Market Cap: £380.1m
  • Latest PE (hist): 38.32
  • Div Yield: 2.57

Latest News/RNS

(more news)
Date Source Announcement
12May22 07:00 RNS Mattioli Woods PLC - Acquisition of Ferguson Financial Management Ltd
10May22 17:30 RNS Mattioli Woods PLC - Director/PDMR Shareholding
10May22 14:48 RNS Baillie Gifford US - Holding(s) in Company
06May22 07:00 RNS Mattioli Woods PLC - Director/PDMR Shareholding
03May22 11:00 RNS Mattioli Woods PLC - Total Voting Rights
28Apr22 07:00 RNS Mattioli Woods PLC - Change of Auditor
26Apr22 07:00 RNS Mattioli Woods PLC - Director/PDMR Shareholding
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  • 17 May 22
SHORE CAPITAL - Sureserve Group (SUR) - House Stock at 85p


Companies: Sureserve Group Plc
  • 19 May 22
SHORE CAPITAL - Begbies Traynor Group+ (BEG, House Stock, 125p)


Companies: Begbies Traynor Group plc
  • 18 May 22
SHORE CAPITAL - Macfarlane Group ( MACF) - House Stock at 118p


Companies: Macfarlane Group PLC
  • 17 May 22
Cenkos: FRP Advisory Group Plc -- Trading ahead of expectations

FRP has released a very positive FY22E trading update in which it expects revenue would be £95.2m (+21% YoY; we had forecast £88.6m) and Adj EBITDA would be £25.7m – up 12% YoY and comfortably ahead of our £24.2m forecast. Given that the UK administrations market declined 22% YoY in FY22E (as Government support measures offered a temporary lifeline to many businesses), we see this as an excellent performance, which demonstrates FRP's resilient ability to grow throughout economic cycles. With bus

Companies: FRP Advisory Group Plc
  • 20 May 22
Hybridan Small Cap Feast 20/05/22

Dish of the day Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Psych Capital PLC, intends to list on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business networking platform), that is developing the Blossom Database pursuant to a third party licensing arrangement. The Company also has an investment of 426,000 common shares in Awakn, a Canadian NEO Exchange listed psychedelics research and clinical group, with operations in th

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  • 18 May 22
Morning Note – 18 May 2022


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  • 18 May 22
A decent performance in FY21/22 but the outlook disappoints

While Experian reported a decent close to FY21/22, with revenues and benchmark EBIT in line with the consensus, the FY22/23 guidance of 7-9% organic growth left investors wanting more. Additionally, the group guided for a mortgage headwind of c.1.5%, which is lower vs peers but they are more exposed to the vertical. However, the strong cash generation and 10% increase in dividend were encouraging. We will revise our estimates slightly upwards and will likely maintain our positive stance on the s

Companies: Experian PLC
  • 23 May 22
Middle East exposure materially de-risked

Driver Group has issued a positive update on its Middle East operations, in particular the UAE. It has agreed with an unnamed counterparty that 25 employees will transfer to the counterparty on 1st June, resulting in annualised cost savings of >£3m, with no associated exceptional termination costs. This compares to the £1m in cost savings identified within the 29th March update. The counterparty will also assist in collecting the associated debtor book of c.£3.5m, c.£2m of which it will pay upfr

Companies: Driver Group Plc
  • 18 May 22
Hybridan Small Cap Feast 18/05/22

Dish of the day Joiners: Lekoil, the oil and gas exploration and production Company with a focus on Nigeria and West Africa has joined the Access Segment of the AQSE Growth Market. The Company was previously listed on AIM (LEK.L), however, Ordinary Shares have been suspended from trading on AIM since October 2021. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Psych Capital PLC, intends to list on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business ne

Companies: CZA AXL AEE CORA D4T4 EKF ORPH PWM PPH SYM

  • 23 May 22
Hybridan Small Cap Feast 23/05/22

Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Psych Capital PLC, intends to list on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business networking platform), that is developing the Blossom Database pursuant to a third party licensing arrangement. The Company also has an investment of 426,000 common shares in Awakn, a Canadian NEO Exchange listed psychedelics research and clinical group, with operations in the UK and Europe.

Companies: CREO DRV FUM ROCK TOU WRES

  • 25 May 22
Reorganisation of DLOs

Franchise Brands has announced the integration across its UK direct labour organisations and an agreement to complete the earn-out of Willow Pumps.

Companies: Franchise Brands plc
  • 23 Mar 22
Knights Group Holdings - Challenging Times – Stay Neutral

While we would argue there were some underlying signs of challenges at Knights (H1 growth underwhelmed, management selling shares, channel checks with other industry players), the 50% fall in the share price points to a sharp shock to the market. The reaction suggests a significant confidence hit in the ability to continue to execute the Knights model and how deep-rooted any Knights-specific issues might be. We expect this could take time to reverse.

Companies: Knights Group Holdings Plc
  • 23 May 22
Sureserve - HY Results - May 2022

Sureserve has released was a solid interim report, with 24% revenue growth and 41.7% EBITA growth driven by multiple parts of the business, including a good performance from recently acquired CorEnergy. The only slight concern we note is pricing of labour, materials, and energy – though it's worth noting that Sureserve's business isn't directly impacted gas wholesale prices as it's an energy agnostic supplier of heating equipment and maintenance, amongst other things. The outlook is promising

Companies: Sureserve Group Plc
  • 03 May 22
The Hardman & Co Monthly: May 2022

Feature article: Latest ONS survey: steady as she goes…and ignore retail investors at your peril The ONS (Office for National Statistics) has been charting the beneficial ownership of UK-quoted companies periodically since the early 1960s. The latest paper was published in March 2022, and considers the data for December 2020. At December 2020, “Rest of the World” investors owned 56.3% of the market, a further growth since the last survey, while UK institutions’ ownership edged up to 31.6%.

Companies: VTA TRX SCE STX AVO ARBB PANR RECI PCA OCI IBT ICGT FAS FCSS FEV FJV FSV DNL CLIG BBGI

  • 25 May 22
Hybridan Small Cap Feast 25/05/22

Joiners: No Joiners Today. Leavers: Clipper Logistics has left the Main Market following a Cash takeover. What’s cooking in the IPO kitchen? According to news reports, The Very Group, is looking to float after calling off their plan for a £4bn IPO last year due to a volatile market. The ecommerce group is owned by the Barclays family. According to the Sunday Times, the retailer has offered incentives to senior leaders at the firm for pulling off a flotation, which the Barclays family now hope to

Companies: AXS AMS EVG FRAN KMK MRL SDX TEK TGP