Hargreaves Lansdown pretax profit, assets under administration rises
Source - SMW
Hargreaves Lansdown plc reported pretax profit grew 12% to £146.9m for the six month to the end of 2017, while assets under administration rose 9% to £86.1bn driven by an increase in client numbers and wealth consolidation onto its platform.
Net new business was £3.34bn during the period, up 43% compared to the same period a year ago as the financial services firm reported 61,000 increase in active clients to a total of 1,015,000 active clients since 30 June 2017.
Chris Hill, Chief Executive Officer, said:
'I'm pleased to report another strong period of growth for Hargreaves Lansdown for client numbers, revenue and profit. We have a significant market opportunity with a clear strategy focused on our clients' needs and offering great value and service to them.'
'Our aim of making it easy and efficient for clients to manage their savings and investments in a secure environment and empowering them to save and invest with confidence is at the heart of our business, and was reflected in our continued growth during the first half of our 2018 financial year.'