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Key financial data

Results for the six months ending 31 December 2019

The first half of our financial year was another period of growth. Despite market challenges, the resilience of our business, continued execution of our strategy and our focus on ensuring the right outcomes for clients, means we have seen growth and increased market share through the period.

We are confident that the diversified nature of Hargreaves Lansdown, our continued investment where we see opportunity and market leading client offering, mean that we are well placed to help our clients prosper, whilst delivering strong and sustainable returns for shareholders.

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.

884,000+

ISA accounts

380,000+

Fund and Share accounts

423,000+

SIPP accounts

£42 billion+

ISA AUA

£26 billion+

Fund and Share AUA

£34 billion+

SIPP AUA

58,000+

Lifetime ISA clients

115,000+

Junior ISA accounts

123,000+

Corporate scheme members

£3.3 billion

Portfolio Management Service AUA

£9.4 billion

HL Fund Manager AUM

£1.6 billion

Active Savings AUA

460

Corporate schemes

41.8%

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 2015
Year ended
30 June 2016
Year ended
30 June 2017
Year ended
30 June 2018
Year ended
30 June 2019
£m £m £m £m £m
Revenue 395.1 388.3 385.7 447.6 480.5
Commission payable/loyalty bonus (100.9) (61.8) (0.1) (0.1) -
Net revenue* 294.2 326.5 385.6 447.5 480.5
Fair value gains on derivatives 0.0 0.0 2.2 2.3 2.2
Operating costs (96.1) (108.2) (126.7) (158.7) (179.4)
Operating profit 198.1 218.3 261.1 291.1 303.3
Investment revenue 1.0 0.6 1.2 1.5 2.8
Finance costs - - - (0.2) (0.3)
Other (losses) and gains - - (3.5) - -
Profit before tax 199.1 218.9 265.8 292.4 305.8
Tax (41.8) (41.6) (53.8) (55.7) (58.2)
Profit after tax 157.3 177.3 212.0 236.7 247.6
Non-controlling interests (0.6) (0.4) (0.3) (0.4) (0.2)
Profit for the financial year attributable to owners of the parent company 156.7 176.9 211.7 236.3 247.4

* Net revenue is total revenue less the commission payable.

The above figures may be subject to roundings.

At
30 June 2015
At
30 June 2016
At
30 June 2017
At
30 June 2018
At
30 June 2019
£m £m £m £m £m
Non-current assets
Goodwill 1.3 1.3 1.3 1.3 1.3
Other intangible assets 4.6 7.1 11.9 18.1 23.0
Property, plant and equipment 12.0 11.1 11.7 13.8 16.0
Deferred tax assets 6.1 2.7 2.0 4.1 3.8
24.0 22.2 26.9 37.3 44.1
Current assets
Trade and other receivables 411.7 617.0 628.8 627.2 748.6
Cash and cash equivalents 216.8 211.4 81.4 125.3 179.3
Investments 0.9 1.0 4.1 1.5 1.1
Derivative financial instruments - - 0.3 0.2 0.1
629.4 829.4 714.6 754.2 929.1
Total assets 653.5 851.6 741.5 791.5 973.2
Current liabilities
Trade and other payables 397.6 581.7 411.5 364.7 485.7
Derivative financial instruments - - 0.2 0.1 -
Current tax liabilities 18.9 15.2 21.5 20.8 27.5
416.5 596.9 433.2 385.6 513.2
Net current assets 213.2 232.5 281.4 368.6 415.9
Non-current liabilities
Provisions 0.2 0.5 0.6 0.7 0.7
Total liabilities 416.4 597.4 433.8 386.3 513.9
Net assets 237.1 254.2 307.7 405.2 459.3
Equity
Share capital 1.9 1.9 1.9 1.9 1.9
Shares held by Employee Benefit Trust (13.0) (14.9) (7.0) (3.5) (3.4)
EBT reserve 12.7 12.0 7.9 6.2 1.5
Retained earnings 235.0 254.6 304.2 399.4 457.9
Total equity, attributable to the owners shareholders of the parent 236.6 253.7 306.9 404.0 457.9
Non-controlling interest 0.5 0.5 0.8 1.2 1.4
Total equity 237.1 254.2 307.7 405.2 459.3

The above figures may be subject to roundings.

Year ended
30 June 2015
Year ended
30 June 2016
Year ended
30 June 2017
Year ended
30 June 2018
Year ended
30 June 2019
£m £m £m £m £m
Net cash generated from operating activities, after tax 171.4 164.6 227.0 244.8 261.5
Increase in term deposits - - (180.0) (42.0) (7.0)
Interest received 0.9 0.5 - - -
Dividends received from investments - 0.2 - - -
Proceeds on disposal of available-for-sale investments - - 2.7 2.6 0.4
Purchases of property, plant and equipment (2.6) (2.6) (4.7) (6.5) (7.6)
Purchase of intangible assets (2.9) (4.1) (8.4) (9.6) (9.5)
Purchase of investments - (0.1) (3.4) - -
Net cash from/(used in) investing activities (4.6) (6.1) (193.8) (55.5) (9.7)
Purchases of own shares in EBT (2.0) (15.9) (2.9) (8.6) (15.0)
Proceeds on sale of own shares in EBT 4.4 10.7 4.2 7.7 7.7
Dividends paid to owners of the parent (152.1) (158.2) (164.5) (144.5) (190.5)
Dividends paid to non-controlling interests (0.6) (0.4) - - -
Purchase of non-controlling interest in subsidiary (1.1) - - - -
Net cash (used in) financing activities (151.4) (163.8) (163.2) (145.4) (197.8)
Net increase/(decrease) in cash and cash equivalents 15.5 (5.3) (130.0) 43.9 54
Cash and cash equivalents at beginning of year 201.2 216.7 211.4 81.4 125.3
Cash and cash equivalents at end of year 216.7 211.4 81.4 125.3 179.3

The above figures may be subject to roundings.