AJ Bell PLC (LSE:AJB)

Half Year 2025 AJ Bell PLC Earnings Call (Pre-recorded) Transcript

May 23, 2025 / 06:00 AM GMT

Release Date Price: £4.96 (+8.40%)

Transcript

Key Points

Positve

AJ Bell PLC (FRA:3FY) reported a 17% increase in revenue to £153.2 million, driven by strong recurring and transactional revenues.
Platform customers increased by 51,000, reaching a total of 593,000, marking a 9% growth.
Platform net inflows rose by 14% to £3.3 billion, with significant contributions from both advised and direct-to-consumer platforms.
The company declared an interim dividend of 4.5p per share, a 6% increase from the previous year, and announced a share buyback program of up to £25 million.
AJ Bell PLC (FRA:3FY) maintained excellent customer service, with over 96% of calls answered within 20 seconds, despite a busy period with over 200,000 customer interactions.

Negative

Total costs increased by 21% to £87.7 million, outpacing revenue growth.
Market volatility and changes in tax legislation created uncertainty for customers, impacting their activity and behavior.
The company faced challenges due to the complexity of ISA reforms and the uncertainty surrounding pension tax treatments.
Performance-related variable costs, including bonuses, were higher than anticipated, contributing to increased overall costs.
Despite revenue growth, profit before tax only increased by 12%, partly due to strategic pricing changes aimed at maintaining low costs for customers.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AJBA.L - AJ Bell PLC
Half Year 2025 AJ Bell PLC Earnings Call (Pre-recorded)
May 23, 2025 / 06:00AM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to AJ Bell's 2025 interim results video. We're shortly going to hear from Michael Somers Gill and Peter Birch, CEO and CFO of AJ Bell. But first, let's go through some of the key numbers from the first half. Starting with customers and AJ Bell's. Platform customers increased by 51,000 in the first half to close at 593,000, an increase of 9%. Platform assets under administration closed at 90.4 billion pounds, up 5% in the period. Platform net inflows were up 14% versus the prior year to 3.3 billion pounds, with 0.8 billion attributable to the advised platform and 2.5 billion being D to C. Moving on to the key numbers from the first half results announced today. Revenue is up 17% to 153.2 million pounds, driven by

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