Philip Hammond firm that worked for Saudi declares £600,000 dividend

Matrix Partners, which former chancellor set up after leaving office, makes pre-tax profits of £2.5m since 2020

A company owned by the former chancellor Philip Hammond has declared an increased dividend of £600,000, after working for clients including the government of Saudi Arabia, Companies House filings suggest.

Accounts for Matrix Partners Ltd, set up by the Conservative peer after he left office, indicate that the consultancy business has performed strongly thanks to its work for private sector clients and the Saudi regime.