UK-based Hargreaves Lansdown has posted a pre-tax profit of £195.2 million (US$304.8 million) for the first half of 2013, an increase of 28% from £152.8 million (US$238.6 million) reported a year ago.
The group’s consolidated revenue for the first half was £292.4 million, up by 22% compared to £238.7 million reported in the same half of the previous year.
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For the first half of 2013, the operating profit margin increased to 65% compared to 63.1% a year ago.
The total assets under administration for the first half increased by 38% to £36.4 billion from £26.3 billion in year ago half.
Hargreaves Lansdown said that its net business inflows in the first half was £5.1 billion, a 59% rise compared to £3.2 billion reported a year ago.
Commenting on the results, Hargreaves Lansdown CEO, Ian Gorham, said: "We announce that our clients have entrusted a further £5.1 billion to us resulting in £36.4 billion of assets under administration.
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By GlobalData"We have also welcomed 76,000 new clients during the year now totalling 507,000. This has led to a 22% increase in revenues and 28% growth in profits. We thank our diligent staff for their efforts and our clients for their continued loyalty," Gorham added.
