Bristol investment management firm Hargreaves Lansdown unveiled another set of record results today with revenue, profits and assets under administration (AUA) all climbing.
The upbeat interim statement and boost in the half-time dividend triggered an 8.6% leap in its share price by mid a
fternoon, making its shares the strongest gainers of the day.
For the first time the firm’s AUA stands at more than £30bn, up £7bn in just one year. Pre-tax profits for the second half of last year climbed by 30% to £93.7m on revenues up 24% at £140.3m.
Ian Gorham, chief executive at the firm, which describes itself as the UK’s largest direct-to-investor ‘investment supermarket’, said: “Despite continued economic uncertainty in the UK, Hargreaves Lansdown has had the scale, financial strength and market presence to continue to improve its position.
“Clients appreciate our excellent value, service and informed comment. These results reflect our commitment to clients, the financial security of our business and our ability to provide ever more attractive ways of saving money and investing through a Hargreaves Lansdown account.
“In turbulent times wise investors focus firstly on the security of their assets and trustworthy service. As a listed company with a 30-year reputation and a strong balance sheet, Hargreaves Lansdown is uniquely placed to deliver that security and service to the UK public.”
