City Briefs: Mortgage Advice Bureau; Yu Group
Derby-based brokerage firm the Mortgage Advice Bureau (MAB) saw profits fall in 2020 as it was hit by the lockdown in Q2.
The firm saw revenues rise by 3% to £148.3 last year, but profit before tax fell by 16% to £14.9m.
Despite this, MAB says it is a “very strong” pipeline of business and adviser recruitment.
Peter Brodnicki, chief executive, said: “These results once again demonstrate the resilience of our operating model and the quality and dedication of our management team and staff during a year of exceptional challenges. We took quick and decisive action in response to the pandemic that resulted in us not only coming through an incredibly difficult period in great shape and ensuring that our 2020 strategic objectives were met, but also putting ourselves in a strong position to start accelerating growth over the next few years.”
Nottingham-based Yü Group, the independent supplier of gas, electricity and water to the UK SME and corporate sector, has appointed Jason Prothero as commercial and digital transformation director.
He joins from SSE Retail, now part of energy supply company OVO Energy, where he spent 15 years working in a variety of leadership positions.
Bobby Kalar, group chief executive officer, said: “We are delighted to welcome Jason who brings a wealth of expertise and a proven track record which will further strengthen our management team.”
