- Profit before tax up by 31 per cent
- Customer numbers rising slowly
A quick glance at Hargreaves Lansdown’s (HL.) interim results reveals an excellent six months of trading. Revenue increased by a fifth to £350mn, while profit before tax leapt by 31 per cent to £198mn.
It is important to locate where the growth is coming from, though. Retail investors don’t like turbulence, and Hargeaves said confidence hit a record low in the period. As a result, customers increased cash levels in their investment accounts.