Full Year 2023 AJ Bell PLC Meeting for Sell-side Analysts (Pre Recorded) TranscriptDec 07, 2023- Half Year 2023 AJ Bell PLC Earnings Call (pre-recorded) TranscriptMay 25, 2023£3.16 (+0.89%)Earnings
- Full Year 2022 AJ Bell PLC Earnings Call (Pre-Recorded) TranscriptDec 01, 2022£3.6 (-1.04%)Earnings
Half Year 2023 AJ Bell PLC Earnings Call (pre-recorded) Transcript
Hello, and welcome to AJ Bell's 2023 Interim 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 first half. Starting with customers. And as reported in our Q2 trading update back in April, AJ Bell's total customer numbers increased by 7% to nearly 470,000 to the end of March, with the growth being driven by the company's platform business.
Assets under administration closed at GBP 73.8 billion, up 7% in the period. Total net inflows were GBP 2 billion with 55% attributable to the adviser platform and 45% being D2C.
Moving on to the key numbers from the first half results announced today. Revenue was up 37% to GBP 103.6 million with strong ad valorem revenue being the main factor in this increase. This was driven by higher net interest income, following several rate rises in the period, together with elevated customer cash balances.
Custody fees were also up as platform net inflows helped mitigate the impact of last year's market correction on
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