Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Wealth management company Hargreaves Lansdown raised its interim dividend after reporting a rise in first-half profit thanks to an influx of new business and an ongoing market recovery.
For the six month period ended 31 December 2020, pre-tax profit increased 10% to £188.4 million year-on-year as assets under administration grew 16% to £120.6 billion.
The company attributed the growth to net new business, up 40% to £3.24 billion, and the market recovery, which booosted assets under administration by £13.4 billion.
The interim dividend was raised by 6% to 11.9 pence per share.
'Trading in January has been similar to other lockdown periods with strong dealing volumes, significant client engagement and robust net new business and net new client numbers,' the company said.
Beyond the UK's tax year-end, which would provide a gerat opportunity to to engage with new and existing clients, 'things become less certain but we remain committed to our client led strategy and will continue to invest to improve and increasingly personalise the client experience and our proposition,' it added.