Hargreaves Lansdown Reports 15% Revenue Jump in FY21

Hargreaves Lansdown, a UK investment and online trading firm, today released its financial numbers for FY2021 ended 30 June 2021. Overall, the company posted a jump in revenue.

According to the official results, Hargreaves Lansdown generated a revenue of £631 million in FY21, increasing 15% compared to the previous year’s £550.9 million. Net new business for the year totaled £8.7 billion, which is 13% higher compared to £7.7 billion in FY20.

The total assets under administration for the fiscal year reached £135.5 billion, which is significantly higher than FY20’s £104.0 billion. In addition, the company introduced 233,000 net new clients to its services and grew its active client base by 17% to 1,645,000.

However, Hargreaves Lansdown saw its profit before tax decrease 3% from £378.3 million in FY20 to £366 million in FY21. And the diluted earning was 5% down from 65.9 pence per share at 62.5 pence per share in FY21.

“We have delivered a record performance and exceptional growth during an extraordinary and challenging year,”Chris Hill, Chief Executive Officer, commented.”As the UK's market-leading digital wealth management service we have continuously advanced our service and broadened and strengthened our proposition, as client needs evolve, and the wealth market continues to broaden and digitise.”