Hargreaves Lansdown Saw 1% Decline in Q1 FY22 Revenue

Hargreaves Lansdown, a UK investment and online trading firm, has released its financial numbers for the three month period to 30 September 2021, showing a marginal decline in its revenues.

According to the press release, the total quarterly revenue for the period came in at £142.2 million. That was a year-on-year decline of 1 percent compared to last year’s £143.7 million. Net new business for the quarter totaled £1.3 billion, compared to last year’s £0.8 billion.

The total assets under administration for the three months reached £138.0 billion, up 2% compared to last year’s £106.9 billion. In addition, the company introduced 23,000 net new clients in the period, taking active client numbers to 1,667,000.

"Today we report a good start to our financial year, with continued growth in clients and assets in what is typically our quietest quarter,”said Chris Hill, CEO at Hargreaves Lansdown.”We are confident that our client focused strategy, delivering the highest level of service and continuing to invest in our market leading proposition, means that we continue to be well positioned to execute against the growth opportunity ahead of us. I look forward to providing more detail with my executive team at a capital markets day in Q1 2022."

Earlier, Hargreaves Lansdown released its financial numbers for FY2021​ ended 30 June 2021. It generated a revenue of £631 million in FY21, increasing 15% compared to the previous year’s £550.9 million.