Financial services firm Hargreaves Lansdown (HL) has seen revenue and profits rise despite a decline in new business and assets under management, amid turbulent market conditions.
The Bristol-based company reported revenue of £350m in the six months to the end of December 2022, up by a fifth on the first half of the previous financial year. Pre-tax profits rose by almost a third to £197.6m, with the FTSE 100 firm citing a return of higher net interest margins.
Chief executive Chris Hill said “challenging external conditions and low investor confidence” had impacted asset values and stockbroking volumes.
