Hargreaves Lansdown in profit surge

first_imgThursday 10 February 2011 3:25 am John Dunne whatsapp Hargreaves Lansdown in profit surge Show Comments ▼ whatsappcenter_img Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Tags: NULL Hargreaves Lansdown on Thursday posted a 38 per cent rise in first-half underlying pre-tax profit, aided by buoyant global markets, and the British wealth manager and stockbroker said it was well placed to build on the momentum.The Bristol-based company, which provides investment management products and services to private investors in the UK, declared an interim dividend of 4.5 pence.For the six months to 31 December, pre-tax profit before items rose to £59.3m from £43.1m last year. Revenue grew 30 per cent to £97m.Hargreaves Lansdown, which was founded in 1981 by Peter Hargreaves and Stephen Lansdown, said its value of total assets under administration grew 27 per cent to £22.3bn as at 31 December, from £17.5bn at end-June.The Bank of England’s decision on interest rates later on Thursday will be crucial as Britain battles with soaring inflation and a fitful economic recovery.Financial markets see a one-in-five chance that the Bank of England will raise interest rates from their record low 0.5 per cent after what is likely to be its most finely balanced decision in years.Hargreaves shares, which have nearly risen 87 per cent over the past year as stock markets recovered. Chief executive Ian Gorham said: “Despite increased costs relating to our new office building, continued investment in IT systems, increased loyalty bonus payments to clients and most notably a Financial Services Compensation Scheme (FSCS) additional levy of £3m, our costs have been tightly controlled.” last_img