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Key financial data

Results for the year ending 30 June 2021

We have delivered a record performance and exceptional growth during an extraordinary and challenging year.

Our investment in the scalability, diversity and resilience of HL’s business model has resulted in a record 233,000 net new clients and £8.7 billion of net new business in the period, taking total clients to 1.645 million and assets to £135.5 bn.

This has been an extraordinary year and I am proud of how our colleagues responded and continued to deliver to clients throughout this challenging period.

Our focus is, as always, on our clients and their lifelong needs, not just their short-term interests. We have been able to capitalise on this extraordinary year – and enlarge our client base substantially - due to our previous investment decisions and confidence in the opportunity ahead. As the UK’s market-leading digital wealth management service we have continuously advanced our service and broadened and strengthened our proposition, as client needs evolve, and the wealth market continues to broaden and digitise.

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.

1,148,000+

ISA accounts

520,000+

Fund and Share accounts

478,000+

SIPP accounts

£55 billion+

ISA AUA

£33 billion+

Fund and Share AUA

£43 billion+

SIPP AUA

89,000+

Lifetime ISA clients

146,000+

Junior ISA accounts

141,000+

Corporate scheme members

£2.8 billion

Portfolio Management Service AUA

£9 billion

HL Fund Manager AUM

£3.1 billion

Active Savings AUA

490

Corporate schemes

42.9%

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 2017
Year ended
30 June 2018
Year ended
30 June 2019
Year ended
30 June 2020
Year ended
30 June 2021
£m £m £m £m £m
Revenue 385.7 447.6 480.5 550.9 631.0
Commission payable/loyalty bonus (0.1) (0.1) - - -
Net revenue* 385.6 447.5 480.5 550.9 631.0
Fair value gains on derivatives 2.2 2.3 2.2 1.7 0.6
Operating costs (126.7) (158.7) (179.4) (214.9) (266.0)
Operating profit 261.1 291.1 303.3 337.7 365.6
Finance income 1.2 1.5 2.8 2.8 1.4
Finance costs - (0.2) (0.3) (1.0) (1.0)
Other (losses) and gains (3.5) - - 38.8 -
Profit before tax 265.8 292.4 305.8 378.3 366.0
Tax (53.8) (55.7) (58.2) (65.1) (69.7)
Profit for the financial year 212.0 236.7 247.6 313.2 296.3
Attributable to:
Non-controlling interests (0.3) (0.4) (0.2) (0.1) (0.4)
Profit for the financial year attributable to owners of the parent company 211.7 236.3 247.4 313.1 296.7

* Net revenue is total revenue less the commission payable.

The above figures may be subject to roundings.

At
30 June 2017
At
30 June 2018
At
30 June 2019
At
30 June 2020
At
30 June 2021
£m £m £m £m £m
Non-current assets
Goodwill 1.3 1.3 1.3 1.3 1.3
Other intangible assets 11.9 18.1 23.0 28.0 33.6
Property, plant and equipment 11.7 13.8 16.0 33.2 28.6
Deferred tax assets 2.0 4.1 3.8 3.1 3.7
26.9 37.3 44.1 65.6 67.2
Current assets
Trade and other receivables 628.8 627.2 748.6 973.2 869.2
Cash and cash equivalents 81.4 125.3 179.3 235.9 445.3
Investments 4.1 1.5 1.1 0.6 0.9
Derivative financial instruments 0.3 0.2 0.1 0.1 -
Current tax assets - - - 0.7 1.5
714.6 754.2 929.1 1,210.5 1,316.9
Total assets 741.5 791.5 973.2 1,276.1 1,384.1
Current liabilities
Trade and other payables 411.5 364.7 485.7 696.7 774.0
Derivative financial instruments 0.2 0.1 - 0.1 -
Current tax liabilities 21.5 20.8 27.5 - -
433.2 385.6 513.2 696.8 774.0
Net current assets 281.4 368.6 415.9 513.7 542.9
Non-current liabilities
Provisions 0.6 0.7 0.7 0.8 2.7
Non-current financial liabilities - - - 1.0 -
Non-current lease liabilities - - - 19.9 15.0
Total liabilities 433.8 386.3 513.9 718.5 791.7
Net assets 307.7 405.2 459.3 557.6 592.4
Equity
Share capital 1.9 1.9 1.9 1.9 1.9
Shares held by Employee Benefit Trust (7.0) (3.5) (3.4) (6.3) (4.8)
EBT reserve 7.9 6.2 1.5 (1.9) (3.1)
Retained earnings 304.2 399.4 457.9 564.6 599.5
Total equity attributable to the owners of the parent 306.9 404.0 457.9 558.3 593.5
Non-controlling interest 0.8 1.2 1.4 (0.7) (1.1)
Total equity 307.7 405.2 459.3 557.6 592.4

The above figures may be subject to roundings.

Year ended
30 June 2017
Year ended
30 June 2018
Year ended
30 June 2019
Year ended
30 June 2020
Year ended
30 June 2021
£m £m £m £m £m
Net cash generated from operating activities, after tax 227.0 244.8 261.5 265.4 328.6
Increase in term deposits (180.0) (42.0) (7.0) (15.0) 170.0
Proceeds on disposal of investments 2.7 2.6 0.4 0.5 (0.3)
Proceeds on disposal of subsidiary - - - 38.2 0.2
Purchases of property, plant and equipment (4.7) (6.5) (7.6) (5.8) (5.4)
Purchase of intangible assets (8.4) (9.6) (9.5) (10.1) (12.8)
Purchase of investments (3.4) - - - -
Net cash from/(used in) investing activities (193.8) (55.5) (9.7) 7.8 151.7
Purchases of own shares in EBT (2.9) (8.6) (15.0) (14.8) (7.7)
Proceeds on sale of own shares in EBT 4.2 7.7 7.7 5.8 4.3
Payment of principal in relation to lease liabilities - - - (4.3) (4.0)
Dividends paid to owners of the parent (164.5) (144.5) (190.5) (203.3) (263.5)
Net cash (used in) financing activities (163.2) (145.4) (197.8) (216.6) (270.9)
Net increase/(decrease) in cash and cash equivalents (130.0) 43.9 54.0 56.6 209.4
Cash and cash equivalents at beginning of year 211.4 81.4 125.3 179.3 235.9
Cash and cash equivalents at end of year 81.4 125.3 179.3 235.9 445.3

The above figures may be subject to roundings.