AJ Bell is confident its “very resilient” business model will continue to keep its outlook positive after delivering a jump in profits.<\/p>\n
The Manchester-based investment platform increased pre-tax profits by 28%, to \u00a322.7m, and revenues by 22%, to \u00a360.9m in the six months to March 31.<\/p>\n
The company has declared an interim dividend of 1.5p, highlighting its “progressive dividend history and reaffirms our ongoing commitment to this”.<\/p>\n
The FTSE 250 business has seen its share price recover from the market fall in February and March. Its own shares fell 40% but have since bounced back and are trading slightly above the levels seen at the start of 2020.<\/p>\n
Andy Bell, chief executive at AJ Bell, said: “The effects of the Covid-19 crisis are likely to be felt for a long time, although the precise impact it will have on markets, investor sentiment and economic policy is hard to predict.<\/p>\n
“However, we have operated profitably during periods of market volatility and low interest rates before and our business model has proved very resilient.<\/p>\n
“The long-term growth drivers of the platform market remain in place and our strong capital position, coupled with a buoyant trading performance mean the outlook for the future of the business remains positive.”<\/p>\n","protected":false},"excerpt":{"rendered":"
‘Very resilient’ business model allays concerns during market volatility and low interest rates<\/p>\n","protected":false},"author":18,"featured_media":2050172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"coauthors":[81],"class_list":["post-2060338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-top-story"],"yoast_head":"\n