Investment platform AJ Bell reported a stellar year with “record financial performance”, with its profit before tax as up 29% for the year ending 30 September 2024.
Revenue was up 23% to £264.4m over the period, a jump from £218.3m in 2023. Its platform business also had a strong year with 66,000 customers added, increasing the total number of clients by 14% over the year. 'Record' assets under administration (AUA) of £86.5bn, up £15.6bn from 2023 were driven by net inflows of £6.1bn and "favourable market movements" of £9.5bn, according to AJ Bell. Jefferies analysts said the results were in line with consensus, but added they were motivated by the firm's confirmation "that we can expect FY25 profit before tax margins to be over 40% again, wh...
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