MJ Hudson eyes maiden dividend as revenue improves

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Alternative asset manager MJ Hudson booked a first-half loss after rising revenue was offset by higher costs.

The company said it expected to pay a maiden dividend in respect of the six months to June 2021.

Pre-tax losses for the six months through December amounted to £2.1 million, compared to year-on-year losses of £3.1 million.

Revenue rose 45% to £15.9 million, though adjusted revenue rose 14% to £11.3 million and adjusted profit was flat at £0.4 million.

MJ Hudson said its markets remained resilient and were now showing signs of strengthening, with trading in early 2021 on track with expectations.

'We made real progress in the Covid-impacted six months to end December 2020, including a return to organic revenue growth, against what was a tough comparison period,' chief executive Matthew Hudson said.

'Risk factors remain in relation to the global economy caused by the Covid pandemic, but in the alternatives sector which we serve, this is increasingly a question of the speed as opposed to the prospect of a recovery.'

'This translates directly into our own business. With the benefit now of a solid first half, signs of recovery in current trading in the early months of calendar 2021 and growth prospects for the second half, our confidence levels have improved.'

'We confirm we are trading in line with market full year expectations which require a step up in profitability in our second half.'

'Linked to this, we also confirm the payment of a maiden dividend payment to shareholders in respect of the current period to June.'


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