(Reuters) -AJ Bell said on Thursday customer trading on its flagship platform would remain at normalised level after reporting higher annual earnings, helped by record customer additions as investment activity spiked during lockdowns.
Shares in the company, however, were down about 3% after pretax profit came in slightly below market expectations at 55.1 million pounds ($73.20 million) for the year ended September. Analysts on average were expecting 57 million pounds.
The company, which also announced a special dividend of 5 pence per share, appointed Peter Birch as its new chief financial officer from July next year to replace Michael Summersgill, who took the deputy chief executive officer role in October.
Global trading and investment had witnessed a spike during the coronavirus pandemic, owing to market volatility, increased spending power among investors, and expanding interest in online trading among younger and more amateur investors.
Market volatility in recent days has spiked due to concerns over the new Omicron coronavirus variant and its possible economic impact.
"The pandemic has highlighted the need for people to take more control over their financial future, with increasing numbers of people investing for the first time," said AJ Bell Chief Executive Officer Andy Bell.
AJ Bell is preparing to launch two new mobile-led investment applications, Dodl and Touch, in 2022 to meet increasing demand for mobile app-based investing.
The company's revenue rose 15% to 145.8 million pounds.
($1 = 0.7526 pounds)