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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 accounts

441,000+

Fund and Share accounts

441,000+

SIPP accounts

£41 billion+

ISA AUA

£25 billion+

Fund and Share AUA

£34 billion+

SIPP AUA

66,000+

Lifetime ISA clients

123,000+

Junior ISA accounts

129,000+

Corporate scheme members

£2.8 billion

Portfolio Management Service AUA

£8 billion

HL Fund Manager AUM

£2.2 billion

Active Savings AUA

463

Corporate schemes

41.1%

Platforum UK D2C market share

The 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.