1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Dear Guest, we realise advertising is annoying, it is however necessary to help us be a sustainable resource for all, if you want to go advert free then please use the following link to subscribe for £5 a month: Click here
    Dismiss Notice

(HL) Hargreaves Lansdown General Share Chat

Discussion in 'General Share Chat' started by Microem1, Nov 10, 2015.

  1. Microem1

    Microem1 Administrator

    Messages:
    89
    Reputation:
    0
    (HL) Hargreaves Lansdown General Share Chat
     
  2. Groucho

    Groucho Member

    Messages:
    3,248
    Reputation:
    296
  3. Groucho

    Groucho Member

    Messages:
    3,248
    Reputation:
    296
    Trading update

    11 October 2018


    Hargreaves Lansdown plc ('the Group') today publishes a trading update in respect of the three month period to 30 September 2018 ('the period').


    Highlights


    · Net new business of £1.3 billion in the period

    · Net new clients of 29,000

    · Assets under administration ("AUA") of £94.1 billion as at 30 September 2018, up 3% since 30 June 2018

    · Net revenue for the period of £120.8 million (2017: £104.1 million), up 16%


    Chris Hill, Chief Executive Officer, commented:


    "I'm pleased to report a solid start to our financial year for growth in clients, net new business and revenue. The past quarter has seen an uncertain market environment and weak investor sentiment resulting in an industry-wide slowdown in net retail flows. Despite this backdrop, we believe the strength of our business model positions us well for when sentiment improves."


    Assets under administration and net new business
    95B521D2-C410-4A4D-A3F0-485F44E64D02.jpeg

    Net new business of £1.3 billion for the period was driven by continued investment in our digital marketing presence, higher client numbers and ongoing wealth consolidation onto our platform. During the period, we also added three further banks to our cash marketplace service, Active Savings, enabling clients to manage their cash more easily at attractive rates of interest. As a result, we increased the level of marketing and promotional activity in early September and now have over £100 million managed by clients in this service. AUA rose to £94.1 billion as at 30 September 2018 due to net new business and positive market movements.


    We welcomed 29,000 new clients in the period (Q1 18: 30,000), taking active client numbers to 1,120,000.


    Net revenue

    Net revenue for the period was £120.8 million, up 16% on last year, benefitting from higher AUA levels due to net new business and market growth.

    BD6B5199-207A-4A44-9FDB-2A4921171B3F.jpeg
     

Share This Page