AJ Bell has reported a 31% rise in profit before tax to £28.4m for the year ended September, ahead of its IPO later this year.
In its full year financial results, it said revenues reached £89.7m, up 19% from £75.6m last year, while basic earnings per share increased 29% to 55.26 pence from 42.85 pence.
Interim and final dividends totalled £14.6m, an increase of 25% on the previous year, alongside a special dividend of £8m.
Core platform business drive growth
In October, the firm reported total assets under management (AUA) grew 16% for the year from £39.8bn to £46.1bn, with customer numbers reaching 197, 912. Prior to this, in May, it said profits jumped 24% for the six months to 31 March 2018.
The group has consistently reported a rise in customer numbers and profit since its announcement to list.
The rise in assets was attributed to strong growth in the core platform business, which saw a 25% increase for the year and accounts for £38.6bn AUA. Customer numbers for the platform were also up 30% for the year at 183,213 and net inflows reached £5.9bn.
Andy Bell (pictured), chief executive, said: “With nearly 200,000 customers and AUA of £46.1bn, we are a business of scale operating in a fast growing market.
“We have a history of profitability, cash generation and dividends and this is once again demonstrated in our latest full year results. “
Premium LSE listing
The full year results were accompanied by the firm outlining its plans for the initial public offering, which was first announced in March.
AJ Bell confirmed its intention to publish a registration document later today which will result in a premium listing on the official list of the FCA and admission to trading on the main market for listed securities of the London Stock Exchange if approved.
The group will offer participation to qualifying AJ Bell customers through its platform and it intends to float at least 25% of its shares.
Bell said: “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.”
A prospectus including full details of the offer is expected to be published on or around 27 November 2018.
