Proactiveinvestors United Kingdom AJ Bell https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom AJ Bell RSS feed en Mon, 17 Jun 2019 13:45:34 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Director/PDMR Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190611171332_14107135/ Tue, 11 Jun 2019 17:13:32 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190611171332_14107135/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190610180751_14105535/ Mon, 10 Jun 2019 18:07:51 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190610180751_14105535/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190610160652_14105411/ Mon, 10 Jun 2019 16:06:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190610160652_14105411/ <![CDATA[News - AJ Bell outlook remains 'very attractive', says Numis as it upgrades rating ]]> https://www.proactiveinvestors.co.uk/companies/news/221780/aj-bell-outlook-remains--very-attractive--says-numis-as-it-upgrades-rating-221780.html AJ Bell PLC (LON:AJB) has delivered strong results since its initial public offering and the outlook for the group remains very attractive, Numis said as it upgraded its rating on the stock.

Shares in AJ Bell fell by 4% on Thursday after long-standing investor, Invesco Asset Management Ltd, sold a 9.3% stake in the investment platform.

READ: AJ Bell shares fall after Neil Woodford's former employer Invesco cuts stake

But Numis raised its recommendation on the shares to ‘hold’ from ‘reduce’ and left its target price at 346p.

“The pricing points AJ Bell have adopted are attractive for customers and while we believe price is only one component of the decision as to where to hold investments, it rightly remains an important one for advisors,” Numis said.

“Consequently, we see AJ Bell as being well placed as advisors review which platform they choose to place their clients investments on.”

Since AJ Bell listed on the London Stock Exchange, its shares have performed strongly, rising from an offer price of 160p to 401p at the time of writing.

Numis said it sees AJ Bell offering fair value in the short term at the placing price but continues to believe the investment case remains “compelling” on a medium to long term basis.

The broker pointed out that AJ Bell’s assets under administration (AuA) have a compound annual growth rate of 22.4% since September 2007, compared to the 17% achieved by the FTSE All-Share index.

“Furthermore, in no year out of the past 11 years has the AJ Bell AuA gone down, not even during the financial crisis of 2008/09,” Numis said.

“We see structural growth in this industry and we expect AJ Bell to continue to win market share and see its operating margin increase as it does so.”

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Mon, 10 Jun 2019 10:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221780/aj-bell-outlook-remains--very-attractive--says-numis-as-it-upgrades-rating-221780.html
<![CDATA[News - AJ Bell shares fall after Neil Woodford's former employer Invesco cuts stake ]]> https://www.proactiveinvestors.co.uk/companies/news/221717/aj-bell-shares-fall-after-neil-woodford-s-former-employer-invesco-cuts-stake-221717.html AJ Bell PLC (LON:AJB) shares dropped on Friday after a long-standing investor sold a 9.3% stake in the investment platform for £144.4mln.

Invesco Asset Management Ltd, where under-fire fund manager Neil Woodford rose to fame, has sold 38mln shares in AJ Bell for 380p each, cutting its stake to 16.1%.

READ: AJ Bell shares soar on first day trading after investment platform provider IPOs at 160p a share

The shares were sold through an accelerated bookbuild. Numis acted as sole bookrunner in the placing.

In late morning trading, shares in AJ Bell fell 4.7% to 381p.

AJ Bell’s shares have performed strongly since it listed on the London Stock Exchange in December 2018.

The shares ended the first day of trading at 220p, above the offer price of 160p.

At the time of the placing, Invesco had entered into a 180-day lock-in with Numis, meaning it could not sell its shares during that period.

Numis agreed to waive the lock-in after consenting to the share placing.

Invesco said that it intends to remain a “significant, long term shareholder” of AJ Bell. 

Woodford sells stake in AJ Bell to Invesco before IPO 

Famed stock picker Neil Woodford sold his 8% stake in AJ Bell to his former employers at Invesco for £40mln shortly before the firm announced its intention to float in November.

Woodford had first bought a stake in AJ Bell back in 2007 when he was at Invesco.

He had built a steller reputation for delivering good returns to investors during his 26 years at Invesco and took many of his clients with him when he set up Oxford-based Woodford Investment Management in 2014. 

However, Woodford has come under attack this week for suspending trading of his flagship Woodford Equity Income Fund after a flood of investors withdrew money. 

Investors are still having to pay fees of up to 1.7% while the fund is suspended, a move that has been slammed by Treasury Committee chair Nicky Morgan. 

Woodford argued that the decision to suspend trading of the fund for at least 28 days was necessary to protect investors by allowing the company time to "reposition the element of the fund's portfolio invested in unquoted and less liquid stocks, into more liquid investments".

Investors had withdrawn about £560mln of their money over the past four weeks, contributing to a £600mln slump in the value of the fund last month.

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Fri, 07 Jun 2019 08:57:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221717/aj-bell-shares-fall-after-neil-woodford-s-former-employer-invesco-cuts-stake-221717.html
<![CDATA[RNS press release - Result of Placing in AJ Bell plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190607070003_14102307/ Fri, 07 Jun 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190607070003_14102307/ <![CDATA[RNS press release - Proposed Placing in AJ Bell plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190606163504_14102058/ Thu, 06 Jun 2019 16:35:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190606163504_14102058/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190604101822_14097750/ Tue, 04 Jun 2019 10:18:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190604101822_14097750/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190604101502_14097744/ Tue, 04 Jun 2019 10:15:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190604101502_14097744/ <![CDATA[News - AJ Bell founder adds to riches as investment platform unveils first dividend since listing ]]> https://www.proactiveinvestors.co.uk/companies/news/220877/aj-bell-founder-adds-to-riches-as-investment-platform-unveils-first-dividend-since-listing-220877.html AJ Bell PLC (LON:AJB) has announced its first dividend since listing, which will put a few extra quid into the pocket of its already well-heeled founder.

Andrew Bell, who co-founded the investment platform back in 1995, trousered just over £18mln when his company floated in December after selling 11.34mln shares at 160p apiece.

But AJ Bell shares have surged since then, and find themselves comfortably above 400p today, valuing his remaining 25.5% stake at just shy of £450mln.

READ: AJ Bell first-half profits leap, but investors cash in as new business growth slows

The 53-year-old’s net worth has now been given another boost after the FTSE 250 group announced it will pay an interim dividend of 1.5p.

Given that he still owns 103.73mln shares, Bell stands to receive around £1.6mln when the divi is paid out at the end of June. That’s on top of the £2.3mln pay-out he pocketed a few weeks before AJ Bell floated.

After graduating with a first in maths from Nottingham University, Bell went to the US for three years to coach football.

Upon his return, he started working for a small actuarial consultancy in Bolton.

It was after that he took out a £10,000 personal loan and launched AJ Bell with his friend Nicholas Littlefair, with the pair even building their own software.

Twenty-four years since taking the plunge and starting his own business, Bell is now at the helm of a £1.7bn company. Not bad for a working-class lad from St Helens.

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Thu, 23 May 2019 16:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220877/aj-bell-founder-adds-to-riches-as-investment-platform-unveils-first-dividend-since-listing-220877.html
<![CDATA[News - AJ Bell’s first-half profits leap, but investors cash in as new business growth slows ]]> https://www.proactiveinvestors.co.uk/companies/news/220855/aj-bells-first-half-profits-leap-but-investors-cash-in-as-new-business-growth-slows-220855.html AJ Bell PLC’s (LON:AJB) share price surge came to a swift end on Thursday, as investors banked big profits following the release of its half-year results.

The investment platform reported a 17% jump in revenue to £50.1mln in the six months ended 31 March (H1 18: £42.9mln), while pre-tax profits jumped by almost a third to £17.7mln. The interim dividend was raised to 1.50p per share (H1 18: 1.46p).

READ: AJ Bell enjoys strong second quarter

Performance was helped by a pick-up in customer numbers, which rose to 215,000 in the period, up by almost 17,000 compared to the halfway stage of 2018.

But, like some of its larger rivals, AJ Bell has found it harder to get those customers to part with more of their money, as they hold back on investments amid all the political and economic uncertainty.

During the first half, net cash inflows – new business won – fell to £2.1bn, down from £2.9bn at the same point last year, while dealing activity fell 14%.

The company laid the blame squarely at the feet of Brexit, stating that the “current economic and political uncertainty continue to impact customers’ decision-making”.

Shares have surged since IPO

“This robust financial performance enables us to continue to invest in the platform to achieve our ambition of becoming the easiest platform to use, underpinning our principal purpose of helping people to invest,” said chief executive Andy Bell.

AJ Bell shares were down almost 5% on Thursday to 410.5p, bringing an end to a remarkable run for the stock, which only floated in December.

Since then, the shares have risen by more than 150% from their IPO price of 160p, netting huge paper profits for those early investors.

City broker downgrades to ‘reduce’ from 'hold'

“We believe AJ Bell offers investors a structural growth opportunity and we consequently are a buyer of the shares on a long-term view,” said Numis in a note to clients.

“However, our recommendation is based on just a 12-month time horizon. Consequently, given the recent exceptional share price performance (47% alpha in the past three months alone) our short-term recommendation falls to ‘reduce’.”

Numis kept its 346p price target in place, almost 10% below the shares’ current market value.

-- Adds analyst comment --

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Thu, 23 May 2019 11:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220855/aj-bells-first-half-profits-leap-but-investors-cash-in-as-new-business-growth-slows-220855.html
<![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190523070006_14084360/ Thu, 23 May 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190523070006_14084360/ <![CDATA[News - AJ Bell sees interims beating market expectations after strong second quarter ]]> https://www.proactiveinvestors.co.uk/companies/news/219169/aj-bell-sees-interims-beating-market-expectations-after-strong-second-quarter-219169.html AJ Bell PLC (LON:AJB) expects its interim results to be slightly ahead of market estimates after a “robust” second quarter.

The investment platform said assets under administration rose 9% to a record £40.6bn in the three months to March 31, boosted by net inflows of £800mln, defined benefit (DB) pension transfers of £200mln and favourable market movements of £2.3bn.

READ: AJ Bell's assets slip as stock markets wobble

DB pension transfers to the advised platform continued to decline but still contributed to inflows during the quarter.

Customer numbers grew by 5% to a new high of 200,922.

“Trading in the second quarter of our financial year remained robust despite continued weak investor sentiment,” said AJ Bell chief executive Andy Bell.

“We continued to attract new customers and assets to our platform, with both measures hitting new highs during the period. 

“This positions us well for an improvement in investor sentiment.”

Shares ticked up 0.5% to 379p in morning trading.

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Fri, 26 Apr 2019 09:07:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219169/aj-bell-sees-interims-beating-market-expectations-after-strong-second-quarter-219169.html
<![CDATA[RNS press release - Q2 Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190426070004_14052704/ Fri, 26 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190426070004_14052704/ <![CDATA[RNS press release - TR-1:Standard form notification of major holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190402133921_14025841/ Tue, 02 Apr 2019 13:39:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190402133921_14025841/ <![CDATA[RNS press release - Issue of ordinary shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190401100507_14023264/ Mon, 01 Apr 2019 10:05:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190401100507_14023264/ <![CDATA[RNS press release - Director/PDMR Transaction ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190321170001_14011471/ Thu, 21 Mar 2019 17:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190321170001_14011471/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction-Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190318112347_14005921/ Mon, 18 Mar 2019 11:23:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190318112347_14005921/ <![CDATA[RNS press release - Market update - Investment Platforms Market Study ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190314085804_14002138/ Thu, 14 Mar 2019 08:58:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190314085804_14002138/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190301173158_13988026/ Fri, 01 Mar 2019 17:31:58 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190301173158_13988026/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190218160714_13973246/ Mon, 18 Feb 2019 16:07:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190218160714_13973246/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190218145758_13973175/ Mon, 18 Feb 2019 14:57:58 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190218145758_13973175/ <![CDATA[RNS press release - Director/PDMR/PCA Transaction Initial Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190218142652_13973136/ Mon, 18 Feb 2019 14:26:52 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190218142652_13973136/ <![CDATA[RNS press release - Disposal of Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190215091501_13970952/ Fri, 15 Feb 2019 09:15:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190215091501_13970952/ <![CDATA[RNS press release - Issue of ordinary shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190201091630_13955175/ Fri, 01 Feb 2019 09:16:30 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190201091630_13955175/ <![CDATA[News - AJ Bell's assets slip as stock markets wobble ]]> https://www.proactiveinvestors.co.uk/companies/news/213154/aj-bell-s-assets-slip-as-stock-markets-wobble-213154.html Weak stock markets took the gloss off wealth manager AJ Bell PLC’s (LON:AJB) first update since it listed in December.

Funds under management dropped 4% to £44.2bn even though the group’s investment platform pulled in a £600mln of net new money in the three months to December.

There was a 4% rise in customers using the platform at 190,500 while on an underlying basis, inflows rose 20% year-on-year to £1.2bn.

Andy Bell, chief executive, said the company continued to attract new customers and inflows to the platform in the face of volatile investment markets.

Shares eased slightly to 284.80p but are still 78% up on the float price of 160p.

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Wed, 23 Jan 2019 09:42:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213154/aj-bell-s-assets-slip-as-stock-markets-wobble-213154.html
<![CDATA[RNS press release - Q1 Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190123070003_13943343/ Wed, 23 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190123070003_13943343/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190121100004_13941155/ Mon, 21 Jan 2019 10:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20190121100004_13941155/ <![CDATA[RNS press release - Disposal of shares by Director/PDMR to PCA ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181220133051_13911776/ Thu, 20 Dec 2018 13:30:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181220133051_13911776/ <![CDATA[RNS press release - Block Listing Application ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181219164859_13910320/ Wed, 19 Dec 2018 16:48:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181219164859_13910320/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181217163534_13906750/ Mon, 17 Dec 2018 16:35:34 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181217163534_13906750/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181213160022_13903221/ Thu, 13 Dec 2018 16:00:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181213160022_13903221/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181213090703_13902466/ Thu, 13 Dec 2018 09:07:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181213090703_13902466/ <![CDATA[RNS press release - Correction - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181212160346_13901579/ Wed, 12 Dec 2018 16:03:46 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181212160346_13901579/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181212081000_13900679/ Wed, 12 Dec 2018 08:10:00 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181212081000_13900679/ <![CDATA[RNS press release - Admission to Trading on the London Stock Exchange ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181212080001_13900671/ Wed, 12 Dec 2018 08:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181212080001_13900671/ <![CDATA[News - AJ Bell shares soar on first day trading after investment platform provider IPOs at 160p a share ]]> https://www.proactiveinvestors.co.uk/companies/news/210749/aj-bell-shares-soar-on-first-day-trading-after-investment-platform-provider-ipos-at-160p-a-share-210749.html AJ Bell PLC (LON:AJB) saw its value soar by almost a third as its shares started conditional trading on the London Stock Exchange on Friday following an initial public offering (IPO) that valued the investment platform provider at around £651mln.

In afternoon trading, the stock was changing hands at 219p each, just below the session peak of 224p, against an offer price of 160p which had been bang in the middle of the target range of 154p to 166p.

READ: AJ Bell set to float on London Stock Exchange with market value of up to £675mln

The offering comprised 108,264,032 existing shares, representing 26.6% of the company's issued share capital immediately following admission, and it raised around £169.3mln for selling shareholders. Retail investors got around 20% of the shares offered, with customers getting a minimum of 527 shares each.

In the year ending 30 September 2018, AJ Bell had an operating profit of £28mln, on revenue of £90mln and employed more than 750 people.

Andy Bell, the firm’s chief executive officer commented: "The IPO is a significant milestone for the business and I see it as firing the starting gun on our next phase of growth, which I'm massively excited about leading the business through.

"The demand for our IPO from both blue-chip institutions and our own customers was a real endorsement of our business and the market opportunities that lie ahead."

Unconditional dealings in the shares will commence at 8.00 am on 12 December 2018.

 -- Adds share price --

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Fri, 07 Dec 2018 07:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210749/aj-bell-shares-soar-on-first-day-trading-after-investment-platform-provider-ipos-at-160p-a-share-210749.html
<![CDATA[RNS press release - Announcement of Offer Price ]]> https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181207070004_13895035/ Fri, 07 Dec 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/14262/LSE20181207070004_13895035/ <![CDATA[News - AJ Bell set to float on London Stock Exchange with market value of up to £675mln ]]> https://www.proactiveinvestors.co.uk/companies/news/210023/aj-bell-set-to-float-on-london-stock-exchange-with-market-value-of-up-to-675mln-210023.html Investment firm AJ Bell could be valued at up to £675mln when it floats on the London Stock Exchange next month.

The online stockbroker set the price range for its initial public offering at between 154p and 166p, giving it a valuation of between £626mln and £675mln.

"There has been significant interest in our IPO which reflects the potential for expansion in our market, the strength of our business model and our track record of sustainable growth,” said chief executive Andy Bell.

"The application period for the IPO is due to open later today and our customers will be able to apply for shares via our investment platform where they will find the prospectus to help inform their decision."

The firm said it will publish a prospectus later today.

READ: AJ Bell posts jump in full year profits ahead of London float

AJ Bell said it would announce final pricing of the IPO around December 7 when conditional dealings in the shares are expected to begin on the LSE. Unconditional dealings are expected to start on December 12.

The IPO will be promoted to institutional investors and qualifying customers through the AJ Bell investment platform. Existing ordinary shares will be sold by certain current shareholders, directors and employees in the listing.

Directors and selling shareholders will be subject to a customary lock-in period, meaning they will not be able to sell their shares for one year after the IPO. There will be a further lock in for half of their shares in the following year.

AJ Bell shareholders, Invesco Perpetual and Seneca Investment Managers, will be subject to a 180-day lock-in. 

Numis Securities is acting as AJ Bell’s IPO advisor.

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Tue, 27 Nov 2018 10:35:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210023/aj-bell-set-to-float-on-london-stock-exchange-with-market-value-of-up-to-675mln-210023.html
<![CDATA[News - AJ Bell posts jump in full year profits ahead of London float ]]> https://www.proactiveinvestors.co.uk/companies/news/208822/aj-bell-posts-jump-in-full-year-profits-ahead-of-london-float-208822.html Investment platform AJ Bell Holdings Limited reported a 31% increase in full-year pre-tax profits ahead of planned initial public offering (IPO) on the London Stock Exchange (LSE)

Pre-tax profit for the year to September 30 rose to £28.4mln from £21.7mln a year ago as revenue grew 19% to £89.7mln from £75.6mln.

WATCH: Long list of AIM IPOs waiting for Brexit, says AJ Bell analyst

The company’s assets under administration (AUA) gained 16% to £46.1bn from £39.8bn last year as the number of retail customers grew by 20% to 197,912, driven by a strong performance in its core investment platform business.

AJ Bell paid interim and final dividends of £14.6mln, along with a special dividend of £8.0mln.

"We have a history of profitability, cash generation and dividends and this is once again demonstrated in our latest full-year results,” chief executive Andy Bell said.

Alongside the results, the group said full details of its IPO offer were expected by November 27.

The company, which announced its intention to float last March, said at least 25% of the shares will be admitted to trading on the LSE. Customers will be able to purchase the shares at the IPO via the platform.

"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,” Bell said.

 “A listing offers us further reputational and commercial benefits that will support our growth plans."

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Thu, 08 Nov 2018 09:38:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208822/aj-bell-posts-jump-in-full-year-profits-ahead-of-london-float-208822.html
<![CDATA[Media files - Long list of AIM IPOs waiting for Brexit, says AJ Bell analyst ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/5366/long-list-of-aim-ipos-waiting-for-brexit-says-aj-bell-analyst-5366.html Fri, 05 Aug 2016 13:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/5366/long-list-of-aim-ipos-waiting-for-brexit-says-aj-bell-analyst-5366.html <![CDATA[Media files - AJ Bell’s Mould on oil and gas sector and blue-chip earnings ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/4322/aj-bells-mould-on-oil-and-gas-sector-and-blue-chip-earnings-4322.html Fri, 30 Oct 2015 15:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/4322/aj-bells-mould-on-oil-and-gas-sector-and-blue-chip-earnings-4322.html