Home loan broker Mortgage Advice Bureau (MAB1:AIM) reports an impressive set of maiden results and is confident of more growth this year.

Floated on AIM in December 2014, the ₤92 million business grew profit-before-tax 52% to ₤8 million excluding initial public offering (IPO) related costs.

Adjusted earnings per share was 12.7p and a dividend of 2p is proposed.

Chief executive and co-founder Peter Brodnicki says priorities this year include the hiring of more advisers and investing in regional telephone centres.

MAB1 - Comparison Line Chart (Rebased to first)

'2015 being an election year may inevitably generate some uncertainty for the economy generally,' says Brodnikci, who owns 35.9% of the business.

'However, we are encouraged by the political consensus around the importance of the housing market to the UK economy.'

Brodnicki says Mortgage Advice is well positioned for growth following the Mortgage Market Review, which stipulates borrowers must go through a fully advised process to comply with Financial Conduct Authority rules.

Despite its name, the business generates nearly as much revenue from insurance commission as it does from procuring mortgages.

The stock trades 1.6% higher at 179p in a falling general market.

Issue Date: 26 Mar 2015