Hargreaves Lansdown delivers record £72m profits

Hargreaves Lansdown today said it delivered record underlying profits of £72m in the second half of last year.

Revenue in the period was £112.9m, with total net business inflows of £1.16bn. Total assets under administration now stand at £23.4bn. Its underlying profit excludes a £3m FSCS levy and other one-off expenses. The group's profit after taxation was £52.9m, up from £40.6m in the corresponding six months last year. Hargreaves said the largest increase in revenue was through its Vantage service, where income was up almost 20% to £87m. Ian Gorham, chief executive, said: "In spite of unfavourable conditions and lower investment values, we continued to see healthy net business inflow, onl...