## AJ Bell PLC Final Results Summary
**Key Highlights**
* **Strong Financial Performance** AJ Bell reported record revenue of £317.8 million (up 18%) and profit before tax (PBT) of £137.8 million (up 22%) for the year ended September 30, 2025. This growth was driven by increased customer numbers, assets under administration (AUA), and operational efficiency.
* **Customer Growth** The company added 102,000 new customers, reaching a total of 644,000, representing a 19% increase. This growth was fueled by both advised and direct-to-consumer (D2C) channels.
* **AUA Growth** AUA reached a record £103.3 billion, up 19%, driven by net inflows of £7.5 billion and favorable market movements.
* **Shareholder Returns** AJ Bell increased its dividend by 14% to 14.25 pence per share, marking the 21st consecutive year of dividend growth. The company also announced a £50 million share buyback program for FY26.
* **Operational Efficiency** The companys scalable business model resulted in a PBT margin of 43.4%, demonstrating its ability to manage costs effectively while investing in growth.
**Business Segments**
* **Platform Business** The core platform business saw excellent growth in customer numbers and AUA, driven by strong net inflows and market performance.
* **AJ Bell Investments** Assets under management (AUM) increased by 31% to £8.9 billion, reflecting strong inflows and investment performance.
* **Non-Platform Business** The sale of the Platinum SIPP and SSAS business was completed in November 2025, simplifying the business model and allowing focus on the core platform.
**Outlook**
* **Market Opportunity** The UK platform market remains attractive, with significant growth potential as more assets move onto platforms.
* **Investment in Growth** AJ Bell plans to increase investment in brand, marketing, and propositions to accelerate growth in FY26.
* **Confidence in Outlook** Management expressed confidence in the companys prospects, highlighting its scalable model, strong capital position, and focus on long-term growth.
**Key Metrics**
* **Revenue** £317.8 million (up 18%)
* **PBT** £137.8 million (up 22%)
* **Diluted EPS** 25.56 pence (up 26%)
* **AUA** £103.3 billion (up 19%)
* **AUM** £8.9 billion (up 31%)
* **Customer Retention Rate** 94%
**Overall**
AJ Bells final results demonstrate strong financial performance, customer growth, and operational efficiency. The company is well-positioned to capitalize on the growing UK platform market and continues to prioritize shareholder returns through dividends and share buybacks. The focus on investment in growth initiatives and its scalable business model bode well for its future prospects.
| Metric | 2024 (£ million) | 2025 (£ million) | Change |
|---|---|---|---|
| Revenue | 269.4 | 317.8 | 18% |
| Profit Before Tax (PBT) | 113.3 | 137.8 | 22% |
| PBT Margin | 42.0% | 43.4% | 1.4 ppts |
| Diluted Earnings Per Share (pence) | 20.34 | 25.56 | 26% |
| Total Ordinary Dividend Per Share (pence) | 12.50 | 14.25 | 14% |
| Assets Under Administration (AUA) - Platform (£ billion) | 86.5 | 103.3 | 19% |
| Assets Under Management (AUM) (£ billion) | 6.8 | 8.9 | 31% |
| Net Debt (not explicitly stated, but can be inferred from cash and debt positions) | N/A | N/A | N/A |
Note: Debt information is not explicitly provided in the text, so the net debt row is marked as N/A. However, the company mentions having a strong capital position and surplus capital, which suggests a healthy debt profile.
Key highlights from the comparison:
- Revenue and PBT increased significantly year-on-year, driven by growth in customer numbers and AUA.
- PBT margin improved slightly, demonstrating the scalability of the business model.
- Earnings per share and dividends per share increased, reflecting the company's strong financial performance and commitment to shareholder returns. li>AUA and AUM grew substantially, indicating successful customer acquisition and retention strategies.