Hargreaves Lansdown plc Achieves Record Revenue And Profit

Hargreaves Lansdown Plc (LON: HL) also reveals dividend up 11% to 7p per share.

| More on:

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.

Read More

The content of this article is provided for information purposes only and is not intended to be, nor does it constitute, any form of personal advice. Investments in a currency other than sterling are exposed to currency exchange risk. Currency exchange rates are constantly changing, which may affect the value of the investment in sterling terms. You could lose money in sterling even if the stock price rises in the currency of origin. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, and may have other tax implications, and may not provide the same, or any, regulatory protection as in the UK.

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More.

The shares of Hargreaves Lansdown (LSE: HL) slipped 77p to 1,420p during early trade this morning after the firm today announced its interim results.   

The FTSE 100 member, which was recently voted Britain’s Most Admired Company within the specialty finance category, reported record revenue of £153m, up 13%, and record profits before tax of £104m, up 11%.   

The half-year statement also revealed that total assets under administration had climbed 43% to £43bn and net new client money had risen by £1.25bn, or 70%, to £2.8bn.

The blue chip boasted active client numbers had increased by 77,000 to 584,000, adding that approximately 18%, or 118,000, of Royal Mail shareholders invested in the postal service through the group’s services.

The interim dividend climbed 11%, with shareholders in line to receive 7p per share.

Chief executive Ian Gorham said:

“When we presented our interim trading results twelve months ago I reported that for the first time our assets under administration had passed £30 billion.  We are pleased to report that figure has grown by 43% to £43.4 billion. 

“During the six month period most parts of the business have reported record figures.  Client recruitment has surpassed all expectations justifying our commitment to our investment supermarket and digital media strategic initiatives.  We now count 584,000 investors as active clients, an increase of 77,000 (15%) in just 6 months.”

The chief executive added that 80% of the company’s clients would be “better off or no worse” following the RDR pricing changes announced last month, and that the “overall initial client reaction to our changes appears to be positive.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

> Douglas does not own any share mentioned in this article

More on Investing Articles

Passive income text with pin graph chart on business table
Investing Articles

Yields of up to 7%! I’d consider boosting my income with these FTSE dividend stocks

The London market has some decent-looking dividend stocks right now, and I’m tempted by these two for growing income streams.

Read more »

Young mixed-race couple sat on the beach looking out over the sea
Investing Articles

I’d put £20K in an ISA now to target a £1,900 monthly second income in future!

Christopher Ruane shares why he thinks a long-term approach to investing and careful selection of shares could help him build…

Read more »

Mature couple at the beach
Investing Articles

6 stocks that Fools have been buying!

Our Foolish freelancers are putting their money where their mouths are and buying these stocks in recent weeks.

Read more »

Black woman using loudspeaker to be heard
Investing Articles

I was right about the Barclays share price! Here’s what I think happens next

Jon Smith explains why he still feels the Barclays share price is undervalued and flags up why updates on its…

Read more »

Investing Articles

Where I’d start investing £8,000 in April 2024

Writer Ben McPoland highlights two areas of the stock market that he would target if he were to start investing…

Read more »

View of Tower Bridge in Autumn
Investing Articles

Ahead of the ISA deadline, here are 3 FTSE 100 stocks I’d consider

Jon Smith notes down some FTSE 100 stocks in sectors ranging from property to retail that he thinks could offer…

Read more »

Young female business analyst looking at a graph chart while working from home
Investing Articles

Why I think Rolls-Royce shares will pay a dividend in 2024

Stephen Wright thinks Rolls-Royce shares are about to pay a dividend again. But he isn’t convinced this is something investors…

Read more »

Investing Articles

1 of the best UK shares to consider buying in April

Higher gold prices and a falling share price have put this FTSE 250 stock on Stephen Wright's list of UK…

Read more »