14.6 C
Manchester
Friday, June 6, 2025
BlogAJ Bell profits surge following year of strong growth

AJ Bell profits surge following year of strong growth

Annual profits at Manchester-headquartered AJ Bell have surged 29 per cent as the investment platform’s assets under administration have risen to nearly £40bn.

Pre-tax profits for the year to September 30 2017 grew to £21.7m from £16.8m as the company continued its strong growth of customer numbers.

The company provides online pension, investment and stockbroking services to customers across the UK.

Retail customers increased by 17 per cent to 164,557, while assets under administration rose 25 per cent to £39.8bn from £31.8bn.

The increase in assets under administration was driven primarily by £6.4bn of new business, up 78 per cent on the previous year’s figure of £3.6bn.

Revenue grew 17 per cent to £75.6m from £64.5m and AJ Bell is continuing its progressive dividend policy with a 10 per cent increase to 28.25p a share, equating to a total shareholder pay-out of £11.6m.

AJ Bell’s figures also absorb the cost of moving into its new head office at Salford Quays in the summer, providing the necessary space to support the company’s rapid growth.

It employs nearly 700 people, most of whom are based at the new HQ at Exchange Quay.

In November the company announced it would be bringing a further 100 jobs at the site by moving its stockbroking services from Tunbridge Wells.

The company is benefiting from the growth in popularity of self-invested personal pensions (SIPPs), a particular strength for AJ Bell, as well as low-cost, ready-made investment portfolios that were launched this year.

Andy Bell, chief executive at AJ Bell, said: “We are pleased to report another year of strong growth for the business, both in terms of the number of customers using our investment platform and our financial performance.

“To support that growth, we moved into our new head office in Salford Quays during the year and we are in the process of making that the main hub for all our core operations.

“As we go through that process in 2018 we will be recruiting locally to continue building a highly-skilled workforce who can help us achieve our vision of being the easiest investment platform to use in the UK.”

Latest

Bouquet basics for Dad: Flower expert shares how to make those Father’s Day blooms last

A flower expert has revealed his top tips for dads to look after their blooms if they receive them for Father’s Day. Colourful bouquets and...

The Kim Jong Un Billboard That’s Shaking Up Manchester’s Fashion Scene

An eye-catching new billboard in Manchester featuring North Korea’s leader is challenging norms—and turning sustainable fashion on its head. A giant image of Kim Jong...

Heat Engineer Software Limited receives significant investment from Greenarc

Heat Engineer Software, the Lancashire based company at the forefront of heat loss calculations and the sizing of both renewable and traditional heating equipment,...

Pioneering project to change way people travel in Britain

A pioneering project is set to transform how people explore and move across Britain and Ireland. Slow Ways, a non-profit Community Interest Company, has already...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

The Kim Jong Un Billboard That’s Shaking Up Manchester’s Fashion Scene

An eye-catching new billboard in Manchester featuring North Korea’s leader is challenging norms—and turning sustainable fashion on its head. A giant image of Kim Jong...

Bouquet basics for Dad: Flower expert shares how to make those Father’s Day blooms last

A flower expert has revealed his top tips for dads to look after their blooms if they receive them for Father’s Day. Colourful bouquets and...

Pioneering project to change way people travel in Britain

A pioneering project is set to transform how people explore and move across Britain and Ireland. Slow Ways, a non-profit Community Interest Company, has already...

Heat Engineer Software Limited receives significant investment from Greenarc

Heat Engineer Software, the Lancashire based company at the forefront of heat loss calculations and the sizing of both renewable and traditional heating equipment,...

More News

How Manchester’s Tech Startups Are Powering Growth with Headless CMS Architecture

In no time at all, Manchester has emerged as one of the UK's leading technology hubs. The city is home to a vibrant startup...

St George’s Day parade returns to Manchester

The St George's Day Parade, a beloved fixture in Manchester's event calendar for nearly two decades, returns on April 27 with its vibrant celebration...

Manchester prepares to mark VE Day

Celebrations to commemorate the 80th anniversary of VE Day are set to take place throughout Manchester. On May 8, 80 years will have passed since...