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Strong performance for Hargreaves Lansdown sees 46% rise in profits
•Hargreaves Lansdown sees 46% rise in full year profit
•Dividend hike increases attractions for income seeking investors
•The Share Centre continues to recommend investors ‘hold’ Hargreaves Lansdown for now
As wealth management firm, Hargreaves Lansdown, reports positive figures for the year ending 30 June Graham Spooner, investment adviser at The Share Centre, explains what this means for investors.
“Hargreaves Lansdown announced profits for the year increased by 46% with total assets under administration of £24.6bn, a 41% increase from the year before. The company’s revenues also saw a substantial rise to £207.9m, up by 31%. Investors will be encouraged by these figures and the company is starting to solidify its position in the FTSE 100.
“Growth seeking investors will be pleased to see a significant rise in new business and new client levels. Since the 30 June these levels have continued to rise despite the volatility of the investment market and economic uncertainty for the consumer. The total number of active clients now stands at 380,000.
“The company has also sharply increased its final dividend from just 0.58p per share to 8.41p. The total dividend has risen from 11.88p per share last year to 18.87p. This boost of almost 60% will start to attract income seeking investors.
“Following the good performance in 2011 and the increase in dividend, the company now has attractions for both income and growth seeking investors. We continue to recommend investors ‘hold’ Hargreaves Lansdown for now as uncertainty remains over future regulatory issues.”
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THIS DATA IS PROVIDED BY GRAHAM SPOONER, INVESTMENT ADVISER AT THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.
Risk Warnings:
Investing in general, and the products and services mentioned above may not be suitable for all: if in doubt, individuals should seek independent financial advice. The value of investments and the income from them can go down as well as up and investors may not get back their original investment. Past performance is not a reliable indicator of future performance.
The bases and levels of taxation relating to ISAs, CTFs and SIPPs are subject to change and the value of these tax allowances may depend upon the circumstances of the individual.
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Back2011-09-01 13:25:56 © Moneyextra.com