AJ Bell assets hit £46bn as it readies for IPO

Andy Bell

Manchester-based investment platform AJ Bell on Thursday notified the London Stock Exchange of its “potential intention” to float its shares as it unveiled full year results showing assets under administration rose 16% to £46.1 billion.

The firm said retail customers for the year ended September 30, 2018, increased 20% to 197,912.

AJ Bell reported revenues up 19% to £89.7 million, profit before tax up 31% to £28.4 million and a 29% increase in basic earnings per share to 55.26p.

AJ Bell’s interim and final dividends totalled £14.6 million (35.5p per share), together with a further special dividend of £8 million (19.5p per share).

Andy Bell, Chief Executive Officer, said: “The purpose at the heart of our business is to make it easy for people to invest.

“We do this by delivering innovative, low-cost and transparent investment products via our platform.

“This focus on the customer has enabled us to grow since formation in 1995 to become one of the largest investment platforms in the UK, spanning both D2C and advised markets.

“With nearly 200,000 customers and AUA of £46.1 billion, we are a business of scale operating in a fast growing market.

“We have a history of profitability, cash generation and dividends and this is once again demonstrated in our latest full year results.

“Revenue was up 19% and profit before tax increased 31%, with interim and final dividends totalling £14.6 million, an increase of 25% on the previous year.

“Our intention to float the business on the London Stock Exchange reflects both our historic achievements and our belief in how much more we can achieve.

“A listing offers us further reputational and commercial benefits that will support our growth plans.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.