Investment platform AJ Bell has enjoyed its “most profitable year ever” in its first 12 months since becoming listed on the London Stock Exchange, with profit before tax rising 33% to £37.7m.
Over the year to 30 September, the platform reported a 17% increase in revenue to £104.9m, while assets under administration (AUA) soared 13% to £52.3bn. AJ Bell has also managed to grow its customer base over the period, with the number of retail customers up by 17% to 232,066, and a high rate of retention at 95.4%. Commenting on the results, CEO Andy Bell said: "These results are a strong endorsement of the business model and growth strategy that we outlined in the run up to our IPO a year ago. "The structural growth drivers for investment platforms in the UK remain strong and if...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
