Bloomberg News

Hargreaves Lansdown Profit Rises 23% After Gaining New Clients

September 05, 2012

Hargreaves Lansdown Plc (HL/), the U.K.’s largest retail broker, said full-year net income rose 23 percent as it added new clients.

Profit for the year rose to 113 million pounds ($179 million) from 91.8 million pounds, the Bristol, England-based company said in a statement today.

The firm now has 425,000 clients, an increase of 45,000 from last year, it said. Revenue grew 15 percent to 238.7 million pounds and assets under management rose 7 percent to 26.3 billion pounds.

“The group has continued to attract significant numbers of new clients and is reporting increased profits despite a year marked by economic and regulatory uncertainty,” Chairman Michael Evans said in the statement.

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net.

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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