AJ Bell says revenue for H2 will be £136m

AJ Bell (LON:AJB), the investment platform, said on Monday that it expects its revenue for the current year to be at least £6m ahead of current market expectations.

The FTSE 250 company confirmed the increase in a trading update for H1 of the current financial year, concluding 30 September 2021.

Market consensus at present states that AJ Bell’s revenue for the period will be £136m.

The company released a statment with its trading update which went into further detail:

“In its 2020 annual results announced on 3 December 2020, the company highlighted the high levels of new customers and record levels of dealing activity by D2C customers in the year ended 30 September 2020.”

“The company has continued to see strong customer acquisition in the first half of the current financial year and dealing activity by D2C customers has remained at elevated levels throughout.”

“Although dealing activity is expected to moderate from current levels in the second half, management currently expects revenue for the year ending 30 September 2021 to be at least £6m above current market consensus.”

On early morning trading AJ Bell shares are up by 1.47% 414.5p per share.