Hargreaves Lansdown plc
Results for the year ended 30 June 2022
Highlights:
- Net new business of £5.5 billion
- Assets Under Administration, down 9% driven by market falls to £123.8 billion
- 1,737,000 active clients, an increase of 92,000 in the year
- Underlying profit before tax decrease of 19% to £297.5 million
- Profit before tax decrease of 26% to £269.2million
- Ordinary dividend up 3% at 39.7 pence per share
|
|
Year to 30 June 2022 |
Year to 30 June 2021 |
Change % |
|
Net new business inflows |
£5.5bn |
£8.7bn |
-37% |
|
Total assets under administration |
£123.8bn |
£135.5bn |
-9% |
|
Revenue |
£583.0m |
£631.0m |
-8% |
|
Profit before tax |
£269.2m |
£366.0m |
-26% |
|
Underlying profit before tax* |
£297.5m |
£366.0m |
-19% |
|
Diluted earnings per share |
45.6p |
62.5p |
-27% |
|
Underlying diluted earnings per share* |
50.4p |
62.5p |
-19% |
|
Ordinary dividend per share |
39.7p |
38.5p |
+3% |
|
Total dividend per share |
39.7p |
50.5p |
-21% |
|
*Underlying profit before tax and underlying diluted EPS are new Alternative Performance Measure which exclude the impact of strategic investment and dual tech running costs. See the Glossary of Alternative Performance Measures on page 33 for the full definitions and page 9 where a reconciliation to the relevant statutory measure is provided.
|
|||
Chris Hill, Chief Executive Officer, commented:
Against a macroeconomic and geopolitical climate not seen in a generation with subdued flows and lower activity across wealth management, we have delivered £5.5 billion of net new business through the year and the quality of our service attracted a further 92,000 net new clients.
Our focus is firmly on servicing our clients, disciplined cost management and delivering our strategy because we remain confident that it will deliver outstanding client service, strong shareholder returns and market leadership for HL.
Our progress against our strategic goals has been strong since February with the launch of the first of our new funds and an acceleration in our Active Savings proposition, an essential service to help clients manage their cash savings at this critical time, leading to a record £4.6 bn assets, with over 114,000 client accounts.
I would like to thank my colleagues for their hard work and continued commitment to our clients to ensure they get the best outcomes during these challenging times.