Platform and SIPP supplier AJ Bell has reported sturdy progress in income and income in its outcomes for the yr ended 30 September printed at the moment.

Income rose 33% to £218.2m (FY22: £163.8m) and revenue earlier than tax was up 50% to £87.7m (FY22: £58.4m).

A last dividend of seven.25 pence per share has been proposed, rising the entire atypical dividend for the yr by 46% to 10.75 pence per share (FY22: 7.37 pence per share) – the nineteenth consecutive yr of atypical dividend progress.

The agency mentioned that the platform enterprise had a profitable yr, with buyer numbers rising by 50,880 to 476,532 and platform web inflows of £4.2 billion (FY22: £5.8 billion)

The agency reported file property beneath administration (AUA) of £70.9 billion (FY22: £64.1 billion), up 11% and pushed by web inflows and beneficial market actions of £2.6 billion.

AJ Bell Investments noticed file web inflows within the yr of £1.65 billion, up 57% in comparison with the prior yr (FY22: £1.05 billion underlying web inflows). Property beneath administration of £4.7 billion, have been up 68% within the yr (FY22: £2.8 billion).

AJ Bell CEO Michael Summersgill mentioned:” I’m happy to report one other yr of sturdy monetary efficiency for the enterprise which has demonstrated our potential to proceed to develop in numerous market circumstances.

“Income elevated 33% to £218.2 million, enabling us to reinvest in our buyer proposition and our individuals, while delivering a file revenue earlier than tax of £87.7 million which helps an elevated dividend for shareholders.

“We added over 50,000 clients to the platform within the yr, reflecting the standard and worth of our propositions, in addition to elevated funding in our model. The expansion in clients enabled us to ship over £4 billion of web inflows, a wonderful end result which once more highlights the good thing about working our dual-channel platform.

“As we method half one million platform clients, we stay centered on offering a fantastic worth proposition, with a philosophy of sharing our scale advantages with clients. Having diminished a number of charges throughout the platform in 2022, this yr we now have elevated the rates of interest paid to clients a number of occasions and can quickly be rising them additional, with a selected deal with pension drawdown the place there’s a buyer want to carry money to fund revenue funds.”

Within the adviser market the corporate has invested in new performance to assist advisers handle shopper portfolios and subsequent yr will roll out a brand new shopper onboarding course of which can “streamline” the brand new enterprise course of for advisers. The agency has additionally not too long ago added a cash market portfolio to its MPS vary.