British investment manager Hargreaves Lansdown has reported a profit before tax of £131m for the six months ended 31 December 2016, a 21% increase compared to £108.1m for the same period in 2015.
The firm’s net revenue stood at £184.8m, a rise of 16% from £158.8m in the prior corresponding period.
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Net new business inflows were £2.34bn during the six months, a 16% slump compared to £2.77bn in the last year.
Assets under administration reached £70bn at the end of December 2016, a 13% increase from 30 June 2016. Interim dividend increased 10% year-on-year to 8.60 pence per share.
The company’s active client numbers stood at 876,000, an increase of 40,000 since 30 June 2016.
Hargreaves Lansdown CEO Ian Gorham said: “The diversified nature of the Hargreaves Lansdown business has enabled us to deliver significant growth in both revenue and profit.
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By GlobalData“Despite macroeconomic uncertainties impacting investor confidence and net new business, clients continue to trust us with their money and benefit from our market-leading investment services.”
