Half Year 2026 AJ Bell PLC Earnings Call (Pre-Recorded) Transcript
Key Points
- Platform customers increased by 79,000, marking a 12% growth, closing at 723,000.
- Platform assets under administration rose to GBP108.7 billion, a 5% increase.
- Record platform net inflows of GBP4.2 billion, up 27% from the previous year.
- Revenue increased by 19% to GBP183 million, driven by strong recurring ad valorem and transactional revenues.
- Declared an interim dividend of 5p per share, an 11% increase from the prior year, and announced a further GBP15 million share buyback program.
- Total costs, excluding exceptionals, increased by 21% to GBP106.2 million.
- Performance-related variable costs are slightly ahead of original indications due to higher customer transaction activity.
- GBP7.6 million charge related to the write-down of the AJ Bell Touch intangible asset.
- Complexity in policy formation and market uncertainty, particularly around ISAs and pensions, poses challenges.
- Concerns over government policy leading to excess withdrawals from pensions due to uncertainty around tax treatment.
Hello and welcome to AJ Bell's 2026 interim results video. In just a moment, you'll hear from our CEO, Michael Summersgill, and CFO, Peter Birch. But first, let's take a look at some of the key numbers from the first half. Platform customers increased by 79,000 in the first half to close at 723,000, increase of 12%.
Platform assets under administration closed at GBP108.7 billion, up 5% in the period. Platform net inflows were up 27% versus the prior year at a record GBP4.2 billion. Revenue was up 19% to GBP183 million, driven by strong recurring ad valorem and transactional revenues. Total costs, excluding exceptionals, increased by 21% to GBP106.2 million. Overall, there was a 15% increase in underlying profit before tax to GBP79 million and an underlying profit before tax margin of 43.2%.
On capital returns, the board has declared an interim dividend of 5p per share, an 11% increase from the prior year. In addition, the board has approved a further share buyback program of up to GBP15 million, in addition to the previously
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
