The pre-tax profit of the company also jumped by 31 percent.
Its diluted earnings per share came in 29 percent higher at 33.1 pence.
Hargreaves Lansdown (LON: HL), a British financial services company, published its interim results for the six months ended 31 December 2022, reporting a 20 percent revenue increase to £350 million.
Hargreaves Lansdown Sees Solid Revenue and Profit Growth
The revenue was pushed higher despite a 30 percent decline in net new businesses, which came in at £1.6 billion, which is down from £2.3 billion a year earlier. The total assets under administration (AUA) also declined by 10 percent to £127.1 billion. However, the AUA figure jumped 2.3 percent from the previous fiscal year half that ended in June.
The company closed the six months, between July and December, with a pre-tax profit of £197.6 million, which is 31 percent higher than the comparable period of the previous fiscal year. The underlying pre-tax profits, which are calculated by excluding the strategic investment costs, came in at 30 percent higher at £211.9 million.
The diluted earnings per share for the period came in 29 percent higher at 33.1 pence, whereas the underlying figure jumped 28 percent to 35.5 pence.
"I'm delighted that we have delivered a strong financial performance over the first half of the year," said the CEO of Hargreaves Lansdown, Chris Hill, who will retire later this year. The company already named Dan Olley as Hill's successor, who will take over before the November deadline.
The revenue and profit figures did not cause any positive or negative sentiment among the company's investors, as the stock prices did not show any significant swing on Wednesday morning, as of press time. However, the company's performance remained dull in the past year as the HL stock lost about 27 percent of its value.
HL stock price movement in the past year.
Solid Jump in Client Numbers
Hargreaves Lansdown is a Bristol-headquartered financial service company that offers capital market investment products to retail investors.
"Whilst challenging external conditions and low investor confidence impacted asset values and stockbroking volumes in the period, clients have benefitted from our diversified platform, and we have progressed across all the strategic priorities that we set out a year ago," Hill added.
Indeed, the company added 31,000 new clients in the six months, taking the total client numbers to 1.77 million. Its retention level also remains high at 92.4 percent.
"Our focus remains on engaging with clients and helping them to navigate the challenging backdrop," said Hill.
Hargreaves Lansdown (LON: HL), a British financial services company, published its interim results for the six months ended 31 December 2022, reporting a 20 percent revenue increase to £350 million.
Hargreaves Lansdown Sees Solid Revenue and Profit Growth
The revenue was pushed higher despite a 30 percent decline in net new businesses, which came in at £1.6 billion, which is down from £2.3 billion a year earlier. The total assets under administration (AUA) also declined by 10 percent to £127.1 billion. However, the AUA figure jumped 2.3 percent from the previous fiscal year half that ended in June.
The company closed the six months, between July and December, with a pre-tax profit of £197.6 million, which is 31 percent higher than the comparable period of the previous fiscal year. The underlying pre-tax profits, which are calculated by excluding the strategic investment costs, came in at 30 percent higher at £211.9 million.
The diluted earnings per share for the period came in 29 percent higher at 33.1 pence, whereas the underlying figure jumped 28 percent to 35.5 pence.
"I'm delighted that we have delivered a strong financial performance over the first half of the year," said the CEO of Hargreaves Lansdown, Chris Hill, who will retire later this year. The company already named Dan Olley as Hill's successor, who will take over before the November deadline.
The revenue and profit figures did not cause any positive or negative sentiment among the company's investors, as the stock prices did not show any significant swing on Wednesday morning, as of press time. However, the company's performance remained dull in the past year as the HL stock lost about 27 percent of its value.
HL stock price movement in the past year.
Solid Jump in Client Numbers
Hargreaves Lansdown is a Bristol-headquartered financial service company that offers capital market investment products to retail investors.
"Whilst challenging external conditions and low investor confidence impacted asset values and stockbroking volumes in the period, clients have benefitted from our diversified platform, and we have progressed across all the strategic priorities that we set out a year ago," Hill added.
Indeed, the company added 31,000 new clients in the six months, taking the total client numbers to 1.77 million. Its retention level also remains high at 92.4 percent.
"Our focus remains on engaging with clients and helping them to navigate the challenging backdrop," said Hill.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Reimagining a New Era of Banking for Businesses | FMPS:24
Reimagining a New Era of Banking for Businesses | FMPS:24
In the face of an economic downturn and a rapidly changing banking landscape, modern businesses require a fresh approach to banking. Join Shannon Scott, SVP and Global Head of Product at Airwallex, as she discusses the limitations of legacy financial systems and offers insights into how banking can evolve to better meet the needs of today’s businesses. This session will provide valuable perspectives on how to shape the future of business banking to navigate and thrive in a challenging economic environment.
#fmps #fmps24 #fmevents #BusinessBanking #EconomicDownturn #FinancialInnovation #ModernBanking #Airwallex
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In the face of an economic downturn and a rapidly changing banking landscape, modern businesses require a fresh approach to banking. Join Shannon Scott, SVP and Global Head of Product at Airwallex, as she discusses the limitations of legacy financial systems and offers insights into how banking can evolve to better meet the needs of today’s businesses. This session will provide valuable perspectives on how to shape the future of business banking to navigate and thrive in a challenging economic environment.
#fmps #fmps24 #fmevents #BusinessBanking #EconomicDownturn #FinancialInnovation #ModernBanking #Airwallex
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In financial services, achieving global success requires a deep understanding of local markets. In this hands-on, country-specific session, top experts from the Asian Pacific region will explore what drives traders in this diverse market. The discussion will cover strategies for retaining local partners for effective collaboration, the top-performing assets in various regions and the reasons behind their success, and insights into how the industry is evolving, including where the opportunities will be in 2025.
Speakers:
Fraser Nelson, Global Head of Business Development, Scope Markets
Firdaus Ali, Business Analyst & Partnership Manager, TradingPRO
Joy Li, Head of APAC, Gold-i
Sam Grecner, Director of Growth (Australia), TradingView
Mario Singh, Founder and Chairman, Fullerton Markets
Stephen Williams, Premium Client Manager, Capital.Com
#fmps #fmps24 #fmevents #APACFinance #GlobalTrading #MarketInsights #LocalMarkets #financialservices
Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In financial services, achieving global success requires a deep understanding of local markets. In this hands-on, country-specific session, top experts from the Asian Pacific region will explore what drives traders in this diverse market. The discussion will cover strategies for retaining local partners for effective collaboration, the top-performing assets in various regions and the reasons behind their success, and insights into how the industry is evolving, including where the opportunities will be in 2025.
Speakers:
Fraser Nelson, Global Head of Business Development, Scope Markets
Firdaus Ali, Business Analyst & Partnership Manager, TradingPRO
Joy Li, Head of APAC, Gold-i
Sam Grecner, Director of Growth (Australia), TradingView
Mario Singh, Founder and Chairman, Fullerton Markets
Stephen Williams, Premium Client Manager, Capital.Com
#fmps #fmps24 #fmevents #APACFinance #GlobalTrading #MarketInsights #LocalMarkets #financialservices
Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Unlocking Smart Money Secrets: How to Trade Changing Markets | FMPS:24
Unlocking Smart Money Secrets: How to Trade Changing Markets | FMPS:24
Join Thomas Atkinson, Chief Market Analyst at FX Evolution, for an insightful seminar on the advanced strategies institutional investors use to excel in volatile markets. This session will delve into how smart money creates liquidity, the critical role of news and earnings in signaling market reversals, and practical tools for identifying key market shifts. Attendees will gain valuable knowledge on using volume profile tools to pinpoint market turning points, optimizing trades with specific liquidity setups, and enhancing overall trading strategies to navigate dynamic market conditions with confidence.
#fmps #fmps24 #fmevents #TradingIndustry #TradingStrategies #MarketAnalysis #Liquidity #VolumeProfile #InstitutionalInvesting #FinancialExpo #australia
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Join Thomas Atkinson, Chief Market Analyst at FX Evolution, for an insightful seminar on the advanced strategies institutional investors use to excel in volatile markets. This session will delve into how smart money creates liquidity, the critical role of news and earnings in signaling market reversals, and practical tools for identifying key market shifts. Attendees will gain valuable knowledge on using volume profile tools to pinpoint market turning points, optimizing trades with specific liquidity setups, and enhancing overall trading strategies to navigate dynamic market conditions with confidence.
#fmps #fmps24 #fmevents #TradingIndustry #TradingStrategies #MarketAnalysis #Liquidity #VolumeProfile #InstitutionalInvesting #FinancialExpo #australia
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!