Hargreaves Lansdown posts record FY assets on inflows, market gains

Peter Hargreaves of Hargreaves Lansdown

That brings the total number of the firm's clients to just over the 1m mark, an increase of 137,000 from previous year.

For trading platforms like Hargreaves Lansdown, however, it's the business inflows that can make or break the results day reaction and while net new business increased 10% YoY, compared to the prior quarter Assets Under Administration increased only 3.1% from £88.8bn in their May trading statement to £91.6bn today.

Hargreaves Lansdown's results also showed a 10% increase in profits before tax - up to £294.4m - and the group declared a dividend of 40p per share, representing a rise of 38% on past year. Earnings per share rose 11% to 49.6p, which was below the consensus forecast of 50.36p.

Due in part to its higher level of profitability, Hargreaves Lansdown was able to increase total dividends per share by 38%. The 2018 payout ratio was 82% left the total dividend slightly short of the 41.9p average forecast by analysts.

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Hargreaves Lansdown now serves 1.091 million active clients, a rise of 137,000 in the year.

"Brexit is on the horizon and the prevailing political and economic turbulence is having an effect on investor confidence", said Hill.

Hill maintained the group's focus on client service was necessary to position it to capture "the structural growth opportunity" in the United Kingdom savings and investments market, flagging up "significant challenges" society faces in the United Kingdom, including a £314bn savings gap, a greater need for self-provision over a longer period as life expectancy has extended, and "a complex set of government incentives and tax allowances to navigate".

"Our expertise and client service are rightly respected, and I believe the strength and scale of our business means we can continue to develop our offering to the benefit of all our stakeholders in the future".

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