AJ Bell posts double-digit growth in run-up to London float

AJ Bell’s revenue soared nearly 20 per cent in the year to September, giving the investment platform a fresh dose of confidence ahead of its float later this year.

The Salford-based group announced today that revenues had soared by 19 per cent to £89.7m over the 12 months to September, with pre-tax profits rising 31 per cent to £28.4m.

The results for the financial year are set to be AJ Bell’s last before the firm goes ahead with its long-awaited float on the London Stock Exchange, which it also confirmed earlier today.

Boss Andy Bell 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."

He added: "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….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."

The company also added that it plans to allow for at least a quarter of its shares to be floated at the initial public offering (IPO) stage.