StockMarketWire.com - Wealth manager Hargreaves Lansdown reported a rise in profit as assets increased amid new business inflows in the first half of the year.

For the six month period ended 31 December 2019, pre-tax profit increased of 12% to £171.1m on-year and assets under administration were up 22% to £105.2bn since the December end.

The company generated net new business of £2.3bn for the half, thanks to a 50,000 increase in clients active clients to 1,274,000 since 30 June 2019.

The interim dividend was raised by 9% to 11.2p a share.

'Since the (general election) we have seen an increase in investor confidence, which has translated into increased client activity and early signs of renewed net flows into retail funds,' Hargreaves Landsdown said.



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