Hargreaves Lansdown Registers Double Digit Growth in Fiscal 2017

Hargreaves Lansdown, a British provider of investment services, posted an increase in its full year revenue and earnings in its fiscal year on Tuesday, helped by a surge in net new business flows and rising numbers of active new clients. Net revenue grew to 385.6 million pounds ($500.7 million) during the 12 months ended June 30, from 326.5 million pounds a year earlier, the company, which administers 79 billion pounds of assets, said in an earnings statement. Profit after tax jumped to 212.0 million pounds compared with 177.30 million pounds from a year ago even as operating costs climbed 17.1% to 126.70 million pounds. Consequently, diluted earnings per share advanced to 44.60 pence versus 37.30 pence in fiscal-year 2016.

The company garnered net new business of 6.9 billion pounds by introducing 118,000 net new active clients and growing its active client base by a further 14% to 954,000 helped by improved investor confidence in the second half of the year.

Leave a Comment