AJ Bell PLC (FRA:3FY)
€ 5.35 -0.05 (-0.93%) Market Cap: 2.24 Bil Enterprise Value: 2.02 Bil PE Ratio: 22.27 PB Ratio: 9.13 GF Score: 96/100
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Full Year 2023 AJ Bell PLC Meeting for Sell-side Analysts (Pre Recorded) Transcript

Dec 07, 2023 / 09:30AM GMT
Release Date Price: €3.19 (+5.83%)
Unidentified Company Representative

Hello. And welcome to AJ Bell's 2023 annual results video. We're shortly going to hear from Michael Summersgill and Peter Birch, CEO and CFO of AJ Bell. But first, let's go through some of the key numbers from the year, starting with customers. And AJ Bell's total customer numbers increased by over 50,000 in the year, to close at 491,000. This was an increase of 12%, with the growth being driven by the company's platform business.

Assets under administration closed at GBP76.1 billion, up 10% in the year. Total net inflows for the platform business were GBP4.2 billion with EUR1.9 billion attributable to the advised platform and GBP2.3 billion being D2C.

Moving on to the key numbers from today's full year results, revenue was up 33% to GBP218.2 million with strong ad valorem revenue being the principal driver of this increase. This was due to higher net interest income following several interest rate rises in the year, together with elevated customer cash balances in the first half.

Custody fees were also up following an increase in average AUA compared

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