AJ Bell rewards shareholders as profits rise 13% on investor surge
By Frank Prenesti
Date: Thursday 02 Dec 2021
(Sharecast News) - Financial services platform AJ Bell lifted its dividend and announced a special payout to shareholders as it increased annual profits by 13%.
The company's total dividend was hiked by 13% to 6.96p a share, augmented by an extra 5p each. Pre-tax profits for the year to September 30 rose to £55.1m from £48.6m on the back of a 15% increase in revenue to £146m.
Almost 87,500 new customers arrived in the year to September, taking the total to 382,750 as investors started to take more interest in their finances during the Covid pandemic.
Assets under administration soared to £72.8bn, up from £56.5bn with £6.4bn of net inflows.
In a separate announcement the company said Peter Birch had been appointed as chief financial officer effective July 1, 2022, replacing Michael Summersgill who has been promoted to deputy chief executive.
"We continue to see significant long-term opportunities in the investment platform market. The pandemic has highlighted the need for people to take more control over their financial future, with increasing numbers of people investing for the first time," said chief executive Andy Bell.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN