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Hargreaves Lansdown plc Continued growth despite a period of geopolitical uncertainty

Hargreaves Lansdown plc (LON:HL) today announced interim results for the six month period ended 31 December 2018.

Highlights

· Net new business of £2.5 billion.

· Assets under administration down 6% since 30 June 2018 to £85.9 billion.

· 1,136,000 active clients, an increase of 45,000 since 30 June 2018.

· Profit before tax increase of 4% to £153.4 million.

· Interim dividend up 2% to 10.3 pence per share (H1 2018: 10.1p)

Chris Hill, Chief Executive Officer, commented:

“The diversified nature of Hargreaves Lansdown has enabled us to continue growing despite a period of geopolitical uncertainty, market volatility and weak investor confidence. We have a significant long-term market opportunity and our recent investment in service and developing our proposition are bringing real benefits to the business and our clients, both in difficult times such as the present and as and when conditions improve.”

 

Financial highlights

6 months ended 31 December 2018

6 months ended 31 December 2017

Change %

Year ended

30 June

2018

(H1 2019)

(H1 2018)

(FY 2018)

Net new business

£2.53bn

£3.34bn

-24%

£7.6bn

Total assets under administration (AUA)

£85.9bn

£86.1bn

-0.2%

£91.6bn

Net revenue

£236.4m

£216.0m

+9%

£447.5m

Profit before tax

£153.4m

£146.9m

+4%

£292.4m

Diluted earnings per share

26.1p

25.0p

+4%

49.6p

Interim dividend per share

10.3p

10.1p

+2%

10.1p