Profit for the year decreased to GBP3.08 million from GBP3.33 million last year.

Adjusted profit before tax increased 2.2% to GBP5.06 million from GBP4.95 million in 2011.

Revenues were up by 33.3% to GBP20.48 million compared to GBP15.36 million reported a year ago.

Assets under administration and advice registered 31.3% rise to GBP3.02 billion from GBP2.30 billion in the previous year.

Earnings per share fell 8.1% to 16.96 pence from 18.45 pence in the prior year. Adjusted earnings per share increased 4.0% to 22.02 pence from 21.17 pence in the previous year.

Mattioli Woods executive chairman Bob Woods said that its total assets under administration and advice increased by 31.3% with GBP0.53 billion of assets brought in on the acquisition of Kudos.

"Revenues were up 33.3% to GBP20.48 million, with Kudos delivering GBP4.27 million of this increase and bedding-in well," Woods said.