Interactive Investor creates hundreds of jobs as trading booms
Interactive Investor created almost 200 jobs as its profit increased to almost £90m last year, it has been revealed.
The Manchester-headquartered company has posted a pre-tax profit of £89.7m for 2024, up from the £84.2m it achieved in 2023.
New accounts filed with Companies House also show that its headcount rose from 726 to 919 employees over the same 12 months.
Interactive Investor’s revenue grew from £236.1m to £260.1m in the year.
The company said its trading and foreign exchange revenue increased by 15 per cent and 70 per cent respectively over the year.
Its daily average retail trades rose by 20,100 compared to 15,700 in 2023. Within that, non-UK equity trades grew by 64 per cent to 4,300.
The business added that its trading activity increased by 29 per cent compared to 2023’s level – ruled by “increased volatility, partly due to political and economic uncertainties” in 2024.
Interactive Investor said it added 32,000 new customers in the year – a rise of eight per cent – bringing its total to 439,000.
Its assets under management jumped from £61.7bn to £73.8m in the year.
Subscribe to the Boardroom Uncovered podcast from Morning Wire here.
Interactive Investor has been owned by Aberdeen following a deal with £1.5bn in 2022.
Interactive Investor hails ‘impressive year’
A statement signed off by the board said: “It was another impressive year for Interactive Investor as we delivered strong year-on-year performance ahead of plan to support our sustained, organic growth.”
The business added: “Our roadmap for 2025 will bring another wave of new features, including our managed SIPP (self-invested personal pension), our digital advice service and our advanced trading platform.
“Our results in 2024 reflect the successful combination of our fixed fee subscription model, wide-ranging investment choices and reliable, continuously improving customer experience that we provide.”
The results for Interactive Investor come after Morning Wire reported earlier this week that revenue at the UK arm of rival Trading 212 spiked last year as profit surged past the £50m mark.
Accounts filed with Companies House show the division achieved a revenue of £161.7m during 2024, up from the £104.1m it posted in the prior 12 months.
Trading 212’s UK pre-tax profit also jumped in the year from £38.6m to £52.9m.
According to the new accounts, Trading 212’s UK arm paid a dividend of £13.6m in 2024, down from £20.3m. It also paid a dividend of £4m in March this year.