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AJ Bell expects revenues to top forecasts as share dealing activity remains elevated

AJ Bell PLC (LON:AJB) said it expects revenues for the current year to be £6mln higher than current analyst forecasts after strong trends from its last financial year continued into the new period.

As of last Friday, the average revenue forecast for the company’s current financial year to end-September 2021 was £136mln.

The investment and pensions platform said it had continued to see strong customer acquisition in the first half of the period, with share dealing activity by direct investors remaining at “elevated levels throughout”.

However, dealing activity is expected to moderate from current levels in the second half, the FTSE 250-listed company said.

A further update on customer numbers, assets under administration and assets under management will be given as part of a scheduled second-quarter trading update on 22 April, it added

The shares were up 1% to 413p on Monday morning.

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