Hargreaves Lansdown Sees 20% YoY Increase in Revenue for H1 FY23

Hargreaves Lansdown​, a UK investment and online trading firm, today reported its interim financial results for the six months ended 31 December 2022 (H1 FY23), showing that the company has delivered a strong financial performance over the period.

The interim revenue came in at £350.0 million, rising 20% from H1 FY22's £291.1 million. Profit before tax increased 31% on a yearly basis to £197.6 million, with diluted earnings per share of 33.1p, up 29%.

During the first half, the firm delivered £1.6 billion of net new business, a drop over the prior year reflecting the challenging market conditions and low investor confidence. It ended the period with £127.1 billion assets under administration (AUA), compared to that of £123.8bn in H2 FY22.  

Besides, Hargreaves Lansdown welcomed 31,000 net new clients in H1 FY23, bringing its total active client numbers to 1,768,000. Compared to H1 FY22’s 1,693,000 total active clients, the total number grew 75,000, with client retention increasing during the period to 92.4%.