Hargreaves Lansdown reports 42% in profits

Hargreaves Lansdown has delivered 42% increase in operating profit to £57.8m to the year ended 30 Ju...

Hargreaves Lansdown has delivered 42% increase in operating profit to £57.8m to the year ended 30 June 2008, against £40.7m last year. The Bristol-based firm reported a revenue increase of 22% to £120.3m, in its first full set of accounts since the group listed last May. Its underlying profit margin increased 48% with a total dividend payout for the year of 7.809p per share. Assets under administration increase 9%, which chief executive Peter Hargreaves said would be better reflected by a figure of 19%, had market conditions not been as volatile as they had been. “The market has tak...