Key financial data
Results for the year ending 30 June 2020
We have delivered a strong performance, despite an external environment of persistent challenge.
The benefits of putting our clients at the heart of everything we do, combined with our investment in the scalability, diversity and resilience of HL’s business model, have been demonstrated through a record 188,000 net new clients, bringing total active clients to over 1.4 million and £7.7 billion of net new business, also a record.
At the same time we have completed significant strategic initiatives including launching our new Wealth Shortlist and Fund Finder, as well as completing further work to enhance governance, scalability and resilience in our service to clients.
Our focus on clients, the trusted relationships we have with them and the investment we have made to broaden and strengthen our proposition, means that we are strongly positioned to help our clients navigate through these unprecedented times. It also provides us with confidence in our ability to deliver sustainable and attractive growth and returns beyond the immediate period of uncertainty.
CHRIS HILL, CEO

Hargreaves Lansdown in numbers
We are a well established and trusted brand providing a high quality service across a range of products and services.
971,000+
ISA accounts441,000+
Fund and Share accounts441,000+
SIPP accounts£41 billion+
ISA AUA£25 billion+
Fund and Share AUA£34 billion+
SIPP AUA66,000+
Lifetime ISA clients123,000+
Junior ISA accounts129,000+
Corporate scheme members£2.8 billion
Portfolio Management Service AUA£8 billion
HL Fund Manager AUM£2.2 billion
Active Savings AUA463
Corporate schemes41.1%
Platforum UK D2C market shareThe following graphs provide a five year trend of our key financial data:
Assets under administration (£bn)
No. of active clients ('000)
Net new business (£bn)
Net new clients ('000)
Net revenue (£m)
Profit before tax (£m)
Diluted earnings per share (pence)
Dividend per share (pence)
Year ended 30 June 2016 |
Year ended 30 June 2017 |
Year ended 30 June 2018 |
Year ended 30 June 2019 |
Year ended 30 June 2020 |
|
---|---|---|---|---|---|
£m | £m | £m | £m | £m | |
Revenue | 388.3 | 385.7 | 447.6 | 480.5 | 550.9 |
Commission payable/loyalty bonus | (61.8) | (0.1) | (0.1) | - | - |
Net revenue* | 326.5 | 385.6 | 447.5 | 480.5 | 550.9 |
Fair value gains on derivatives | 0.0 | 2.2 | 2.3 | 2.2 | 1.7 |
Operating costs | (108.2) | (126.7) | (158.7) | (179.4) | (214.9) |
Operating profit | 218.3 | 261.1 | 291.1 | 303.3 | 337.7 |
Finance income | 0.6 | 1.2 | 1.5 | 2.8 | 2.8 |
Finance costs | - | - | (0.2) | (0.3) | (1.0) |
Other (losses) and gains | - | (3.5) | - | - | 38.8 |
Profit before tax | 218.9 | 265.8 | 292.4 | 305.8 | 378.3 |
Tax | (41.6) | (53.8) | (55.7) | (58.2) | (65.1) |
Profit for the financial year | 177.3 | 212.0 | 236.7 | 247.6 | 313.2 |
Attributable to: | |||||
Non-controlling interests | (0.4) | (0.3) | (0.4) | (0.2) | (0.1) |
Profit for the financial year attributable to owners of the parent company | 176.9 | 211.7 | 236.3 | 247.4 | 313.1 |
* Net revenue is total revenue less the commission payable.
The above figures may be subject to roundings.
At 30 June 2016 |
At 30 June 2017 |
At 30 June 2018 |
At 30 June 2019 |
At 30 June 2020 |
|
---|---|---|---|---|---|
£m | £m | £m | £m | £m | |
Non-current assets | |||||
Goodwill | 1.3 | 1.3 | 1.3 | 1.3 | 1.3 |
Other intangible assets | 7.1 | 11.9 | 18.1 | 23.0 | 28.0 |
Property, plant and equipment | 11.1 | 11.7 | 13.8 | 16.0 | 33.2 |
Deferred tax assets | 2.7 | 2.0 | 4.1 | 3.8 | 3.1 |
22.2 | 26.9 | 37.3 | 44.1 | 65.6 | |
Current assets | |||||
Trade and other receivables | 617.0 | 628.8 | 627.2 | 748.6 | 973.2 |
Cash and cash equivalents | 211.4 | 81.4 | 125.3 | 179.3 | 235.9 |
Investments | 1.0 | 4.1 | 1.5 | 1.1 | 0.6 |
Derivative financial instruments | - | 0.3 | 0.2 | 0.1 | 0.1 |
Current tax assets | - | - | - | - | 0.7 |
829.4 | 714.6 | 754.2 | 929.1 | 1,210.5 | |
Total assets | 851.6 | 741.5 | 791.5 | 973.2 | 1,276.1 |
Current liabilities | |||||
Trade and other payables | 581.7 | 411.5 | 364.7 | 485.7 | 696.7 |
Derivative financial instruments | - | 0.2 | 0.1 | - | 0.1 |
Current tax liabilities | 15.2 | 21.5 | 20.8 | 27.5 | - |
596.9 | 433.2 | 385.6 | 513.2 | 696.8 | |
Net current assets | 232.5 | 281.4 | 368.6 | 415.9 | 513.7 |
Non-current liabilities | |||||
Provisions | 0.5 | 0.6 | 0.7 | 0.7 | 0.8 |
Non-current financial liabilities | - | - | - | - | 1.0 |
Non-current lease liabilities | - | - | - | - | 19.9 |
Total liabilities | 597.4 | 433.8 | 386.3 | 513.9 | 718.5 |
Net assets | 254.2 | 307.7 | 405.2 | 459.3 | 557.6 |
Equity | |||||
Share capital | 1.9 | 1.9 | 1.9 | 1.9 | 1.9 |
Shares held by Employee Benefit Trust | (14.9) | (7.0) | (3.5) | (3.4) | (6.3) |
EBT reserve | 12.0 | 7.9 | 6.2 | 1.5 | (1.9) |
Retained earnings | 254.6 | 304.2 | 399.4 | 457.9 | 564.6 |
Total equity attributable to the owners of the parent | 253.7 | 306.9 | 404.0 | 457.9 | 558.3 |
Non-controlling interest | 0.5 | 0.8 | 1.2 | 1.4 | (0.7) |
Total equity | 254.2 | 307.7 | 405.2 | 459.3 | 557.6 |
The above figures may be subject to roundings.
Year ended 30 June 2016 |
Year ended 30 June 2017 |
Year ended 30 June 2018 |
Year ended 30 June 2019 |
Year ended 30 June 2020 |
|
---|---|---|---|---|---|
£m | £m | £m | £m | £m | |
Net cash generated from operating activities, after tax | 164.6 | 227.0 | 244.8 | 261.5 | 263.9 |
Increase in term deposits | - | (180.0) | (42.0) | (7.0) | (15.0) |
Interest received | 0.5 | - | - | - | - |
Dividends received from investments | 0.2 | - | - | - | - |
Proceeds on disposal of investments | - | 2.7 | 2.6 | 0.4 | 0.5 |
Proceeds on disposal of subsidiary | - | - | - | - | 38.2 |
Purchases of property, plant and equipment | (2.6) | (4.7) | (6.5) | (7.6) | (5.8) |
Purchase of intangible assets | (4.1) | (8.4) | (9.6) | (9.5) | (10.1) |
Purchase of investments | (0.1) | (3.4) | - | - | - |
Net cash from/(used in) investing activities | (6.1) | (193.8) | (55.5) | (9.7) | 7.8 |
Purchases of own shares in EBT | (15.9) | (2.9) | (8.6) | (15.0) | (14.8) |
Proceeds on sale of own shares in EBT | 10.7 | 4.2 | 7.7 | 7.7 | 5.8 |
Payment of principal in relation to lease liabilities | - | - | - | - | (4.3) |
Dividends paid to owners of the parent | (158.2) | (164.5) | (144.5) | (190.5) | (203.3) |
Dividends paid to non-controlling interests | (0.4) | - | - | - | - |
Net cash (used in) financing activities | (163.8) | (163.2) | (145.4) | (197.8) | (215.1) |
Net increase/(decrease) in cash and cash equivalents | (5.3) | (130.0) | 43.9 | 54 | 56.6 |
Cash and cash equivalents at beginning of year | 216.7 | 211.4 | 81.4 | 125.3 | 179.3 |
Cash and cash equivalents at end of year | 211.4 | 81.4 | 125.3 | 179.3 | 235.9 |
The above figures may be subject to roundings.