Mortgage Advice Bureau (LSE:MAB1) reported first-half revenue up 8.6% to £161m for the six months to 30 June, against £148.2m a year earlier.
Adjusted pre-tax profit rose 2.1% to £14.8m, but statutory pre-tax profit fell 35.7% to £6.2m from £9.6m, as administrative expenses climbed 21.6% to £32.5m.
The technology-driven mortgage advice network said total mortgage completions, including product transfers, rose 16% to £16.5bn, with growth led by refinancing and product transfers rather than higher-margin purchase lending.
Net debt rose to £15.1m from £11.7m, with leverage at 0.4 times. The board declared an interim dividend of 7.9p per share, up 9.7%.
The group confirmed guidance issued on 9 September that Fluent's expected contribution to 2026 adjusted pre-tax profit is around £5m lower than originally anticipated, after activation of digital lead flows from partner relationships took longer than expected.
"While the revision to our expectations for 2026 was disappointing, we continue to expect Group adjusted profit before tax growth of approximately 5% compared with 2025," said Peter Brodnicki, founder and chief executive.
Group adjusted pre-tax profit for the year to 31 December is now expected to be approximately £38m, with Fluent's stronger contribution pushed into 2027.
Jo Stent is set to become Group Chief Financial Officer on 1 October, succeeding Emilie McCarthy.