Hargreaves Lansdown Profit Rises 28% After Gaining New Clients

Hargreaves Lansdown Plc (HL/), the U.K.’s biggest retail broker, said fiscal full-year profit rose 28 percent and raised its dividend as it added a record number of new clients.

Pretax profit in the year ended June 30 rose to 195.2 million pounds ($304 million) from 152.8 million pounds, the Bristol, England-based company said today in a statement. Revenue rose 22 percent to 292.4 million pounds and assets under administration rose 38 percent to 36.4 billion pounds.

The firm now has 507,000 clients, an increase of 76,000 from last year, it said. The company boosted its second-half and special dividends, resulting in a full-year payout of 29.59 pence per share, a 31 percent increase from last year.

“Our ability to attract and retain assets and clients has been key to our continued profitability,” Chief Executive OfficerIan Gorham said in the statement.

-- Editors: Keith Campbell, Simone Meier

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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