Hargreaves Lansdown profits rise as inflows jump 56%

Hargreaves Lansdown has posted a 16% jump in adjusted pre-tax profits for the six months to end 2009, to £43.1m.

The profit, adjusted to exclude one-off costs relating to its new offices, has climbed from £37.3m for the corresponding period in 2008. Hargreaves grew its assets under administration to £15.6bn, with a 56% jump in new inflows over the six month period to £1.4bn. Assets under administration held within the Vantage service, the group's direct-to-private investor fund supermarket and wrap platform, increased from £10.9bn to £14.4bn over the half year. The number of active Vantage clients at end 2009 was 300,000, compared to 282,000 six months earlier. Vantage clients decreased th...