- AJ Bell said first-half pre-tax profits rose by more than a quarter as net inflows boosted assets under management despite Brexit uncertainty and choppy markets.

For the six months ended 31 March 2019, profit before tax was up 27% to £17.7m and revenue grew 17% to £50.1m.

The company saw its balance sheet strengthen, with net assets up 15% to £73.8m in the half.

Total assets under administration up 3% to £47.7bn thanks to net inflows of £1.8bn, driven by platform net inflows of £2.1bn.

Its platform business, saw customer numbers increased 9% in the half to 214,853.

The company declared an interim dividend of 1.50p per share, in-line with its stated dividend policy.

'Our first set of financial results as a publicly-listed company demonstrates the strength of our business model as outlined ahead of our IPO,' said Andy Bell, Chief Executive Officer at AJ Bell.

'This robust financial performance enables us to continue to invest in the platform to achieve our ambition of becoming the easiest platform to use, underpinning our principal purpose of helping people to invest.'

'This core focus on meeting the needs of advisers and customers, alongside our competitive pricing and high quality service model, means we are well positioned to capitalise on the growing market for investment platforms in the coming years.'

DISCLAIMER: AJ Bell, referenced in this article, is the owner of Stock Market Wire.

At 8:37am: [LON:AJB] share price was -13p at 418p

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