Home Business News Profits rise at AJ Bell

Profits rise at AJ Bell

by LLB Editor
5th Dec 19 8:26 am

Shares in stockbroker AJ Bell have risen a whopping 155 per cent since it listed at 160p last December, closing last night at 408p.

Andy Bell, Chief Executive Officer at AJ 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. Our focus on the needs of our customers and helping them to invest has enabled us to continue to add new customers to the platform and retain existing ones.

“This has resulted in assets under administration increasing to £52.3bn and helped us to deliver another strong financial performance with revenue up 17% and profit before tax up 33%. Our balance sheet remains strong and the Board has proposed a final dividend of 3.33p which takes the total ordinary dividend for the year to 4.83p, an increase of 31%. 

“The structural growth drivers for investment platforms in the UK remain strong and if we continue to meet the needs of customers we are well placed to benefit from these over the coming years.”

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