AJ Bell (LSE: AJB) saw its share price rocket over 15% on Thursday after the company reported “record” financial results. Revenue climbed 33% to £218.2 million and pretax profit jumped 50% to £87.7 million.
The FTSE 250 listed investment platform achieved strong growth. Assets under administration rose 11% to £70.9 billion while customer numbers grew by 50,880 to end at 476,532.
Net inflows hit an all-time high of £1.65 billion, helping to push assets under management 68% higher to £4.7 billion.
The company proposed a final dividend of 7.25p per share, up 58%. Its total annual dividend amounted to 10.75p, a 46% increase.
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AJ Bell CEO Michael Summersgill said the company remains focused on providing value to customers, despite a “challenging environment” likely to persist. However, analysts have warned that impending consumer protection rules could force AJ Bell to cut fees.
AJ Bell shares are down 16% year-to-date amid regulatory concerns, despite today’s significant share price increase.
