MAB reports rise in pre-tax profits

Mortgage Advice Bureau (MAB) has reported a group pre-tax profit of £1.9 million for 2011.

This represents an increase in over 50% from the £1.25 million pre-tax profit in 2010, and up over 25% from its previous record pre-tax profits of £1.4 million in 2007.

Meanwhile, mortgage applications increasing by over 30% with record sales of protection and GI also achieved, the firm said.

Peter Brodnicki, MAB’s CEO, said: “We are delighted with our 2011 results