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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Hargreaves Lansdown Plc | LSE:HL. | London | Ordinary Share | GB00B1VZ0M25 | ORD 0.4P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 12.40 | 1.72% | 734.20 | 733.20 | 734.40 | 743.20 | 725.50 | 729.60 | 1,017,667 | 16:35:22 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Security Brokers & Dealers | 735.1M | 323.8M | 0.6833 | 10.75 | 3.48B |
From Apr 2019 to Apr 2024
TIDMHL.
RNS Number : 0252O
Hargreaves Lansdown PLC
15 May 2018
Trading update
15 May 2018
Hargreaves Lansdown plc ('the Group') today publishes a trading update in respect of the four month period to 30 April 2018 ('the period').
Highlights
Hot Features
Premium
-- Net new business of GBP3.3 billion in the period
-- Year to date net new business of GBP6.6 billion*
-- Net new clients of 60,000
-- Assets under administration ("AUA") of GBP88.8 billion as at 30 April 2018
-- Year-to-date total net revenue of GBP366.6 million up 16%
Chris Hill, Chief Executive Officer, commented:
"Hargreaves Lansdown had another good tax year end, delivering strong net new business of GBP3.3 billion over the busiest time of our year and welcoming another 60,000 net new clients. We have continued to invest in our helpdesk, operations and technology teams and I'm pleased that the consequence of this is that we are able to support stronger volumes of client activity whilst maintaining our leading reputation for client service. We believe continuing to make investments in client service and technology is crucial to the ongoing success of Hargreaves Lansdown."
Assets under administration and net new business
GBP billion Four months Ten months
to 30 April to 30 April
2018 2018
Opening AUA 86.1 79.2
Underlying net new business 3.3 6.6
Market movements (0.6) 4.0
Founder transfer* - (1.0)
------------- -------------
Closing AUA 88.8 88.8
------------- -------------
Net new business was GBP3.3 billion during the period (2017: GBP3.3bn), taking year to date net inflows to GBP6.6 billion (2017: GBP5.6bn). This was driven by increased digital marketing, ongoing wealth consolidation onto our platform, a continuation, albeit on a reduced scale, of transfers from a competitor platform and a small direct back book transfer from Old Mutual. We welcomed 60,000 net new clients in the period, taking active client numbers to 1,075,000. Despite negative market growth and the impact this had on investor sentiment and flows, AUA rose to GBP88.8 billion as at 30 April 2018.
Net revenues
Net revenue for the period was GBP150.6 million (2017: GBP130.9m), benefitting from net new business, higher market levels than last year and strong share dealing volumes. This has resulted in year to date net revenue of GBP366.6 million (2017: GBP315.7m), 16% higher than last year.
*Year to date net new business excludes the transfer off the Vantage platform of GBP902 million of Hargreaves Lansdown plc shares and the withdrawal of GBP77 million of Hargreaves Lansdown plc placing proceeds during the period that were held by a founder.
Contacts:
Investors Media Philip Johnson, Chief Financial Danny Cox, Head of Communications Officer Chris Hill, Chief Executive James Found, Head of Investor Officer Relations +44(0)117 317 1638 +44(0)117 988 9898
Forward looking statements
This announcement contains forward-looking statements with respect to the financial condition, results and business of the Group. By their nature, forward-looking statements involve risk and uncertainty because they relate to events, and depend on circumstances, that will occur in the future. The Group's actual results may differ materially from the results expressed or implied in these forward-looking statements. Nothing in this announcement should be construed as a profit forecast. This announcement is unaudited. This statement should not be seen as a promotion or solicitation to buy Hargreaves Lansdown plc shares. It should be remembered that the value of shares can fall as well as rise and therefore you could get back less than you invested.
LEI Number: 2138008ZCE93ZDSESG90
Assets Under Administration
Average 4 months 3 months 3 months 2 months 4 months 3 months 3 months
AUA to 30 to 31 December to 30 to 30 to 30 to 31 December to 30
(GBPbillion) April 2017 September June 2017 April 2016 September
2018 2017 2017 2016
Funds 48.5 48.2 46.5 45.7 42.2 39.1 37.7
--------- --------------- --------------- ----------- --------- --------------- ---------------
Shares 28.6 27.9 26.7 25.7 24.2 22.1 21.6
--------- --------------- --------------- ----------- --------- --------------- ---------------
Cash 9.0 8.6 8.2 8.1 7.7 7.4 7.1
--------- --------------- --------------- ----------- --------- --------------- ---------------
HL Funds 9.1 9.1 8.8 8.8 8.1 7.2 6.9
--------- --------------- --------------- ----------- --------- --------------- ---------------
Double
count(1) (9.0) (9.0) (8.7) (8.7) (8.0) (7.2) (6.8)
--------- --------------- --------------- ----------- --------- --------------- ---------------
Total 86.2 84.8 81.5 79.6 74.2 68.6 66.5
--------- --------------- --------------- ----------- --------- --------------- ---------------
AUA (GBPbillion) As at As at 31 As at 30 As at As at As at 31 As at 31
30 April December September 30 June 30 April December September
2018 2017 2017 2017 2017 2016 2016
Funds 49.6 48.9 46.6 45.6 44.1 39.9 38.3
---------- ---------- ----------- --------- ---------- ---------- -----------
Shares 29.6 28.5 27.1 25.4 25.0 22.7 21.9
---------- ---------- ----------- --------- ---------- ---------- -----------
Cash 9.5 8.6 8.3 8.1 7.8 7.4 7.3
---------- ---------- ----------- --------- ---------- ---------- -----------
HL Funds 9.4 9.3 8.8 8.8 8.5 7.5 7.0
---------- ---------- ----------- --------- ---------- ---------- -----------
Double
count(1) (9.3) (9.2) (8.8) (8.7) (8.4) (7.5) (6.9)
---------- ---------- ----------- --------- ---------- ---------- -----------
Total 88.8 86.1 82.0 79.2 77.0 70.0 67.6
---------- ---------- ----------- --------- ---------- ---------- -----------
Average 10 months 10 months
AUA (GBPbillion) to 30 to 30 April
April 2017
2018
Funds 47.8 39.9
---------- -------------
Shares 27.8 22.8
---------- -------------
Cash 8.6 7.4
---------- -------------
HL Funds 9.1 7.5
---------- -------------
Double
count(1) (9.0) (7.4)
---------- -------------
Total 84.3 70.2
---------- -------------
(1) All HL Funds are held in Vantage or the Portfolio Management Service (PMS) and are included in the Funds category of the table, with the exception of a small balance held off platform by third parties. To avoid double counting the amount held in Vantage or PMS has been deducted.
AUA 4 months 3 months 3 months 2 months 4 months 3 months 3 months
(GBPbillion) to 30 to 31 December to 30 to 30 to 30 to 31 December to 30
April 2017 September June 2017 April 2016 September
2018 2017 2017 2016
Opening
AUA 86.1 82.0 79.2 77.0 70.0 67.6 61.7
--------- --------------- --------------- ----------- --------- --------------- ---------------
Underlying
net new
business 3.3 1.8 1.5 1.3 3.3 1.2 1.1
--------- --------------- --------------- ----------- --------- --------------- ---------------
Market
movements (0.6) 3.3 1.3 0.9 3.7 1.2 4.8
--------- --------------- --------------- ----------- --------- --------------- ---------------
Founder - (1.0) - - - - -
transfer(1)
--------- --------------- --------------- ----------- --------- --------------- ---------------
Closing
AUA 88.8 86.1 82.0 79.2 77.0 70.0 67.6
--------- --------------- --------------- ----------- --------- --------------- ---------------
(1) Underlying net new business excludes the transfer off the Vantage platform of GBP902 million of Hargreaves Lansdown plc shares and the withdrawal of GBP77 million of Hargreaves Lansdown plc placing proceeds during the period that were held by a founder.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBUGDUCXBBGIS
(END) Dow Jones Newswires
May 15, 2018 02:00 ET (06:00 GMT)
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