AJ Bell reports record profit in first annual report since IPO

Profit before tax up 33%

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 £52.3m. 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 ...