(Alliance News) - AJ Bell PLC on Monday said it expects revenue for the 2021 financial year to be above market expectations, as customer acquisition and dealing activity remains strong.
The Manchester-based trading platform expects revenue for the financial year ending September 30 to be at least GBP6.0 million above the company-compiled consensus of GBP136.0 million.
The company reported revenue of GBP126.7 million and pretax profit of GBP48.6 million in the 2020 financial year, suggesting an annual increase in revenue of at least a 12%.
Dealing activity is expected to moderate in the second half of the current year, AJ Bell said.
Shares were up 1.5% to 414.50 pence in London. Shares in rival Hargreaves Lansdown PLC were up 1.0% to 1,538.70p.
By Ivan Edwards; ivanedwards@alliancenews.com
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Hargreaves Lansdown (HL.)
AJ Bell (AJB)
