* Revenue up 15 pct at 238.7 mln stg
* Pre tax profit up 21 pct at 152.8 mln stg
* FY dividend up 20 pct
LONDON, Sept 5 British investment manager
Hargreaves Lansdown outpaced the impact on investors'
confidence of weak stock markets and bad economic news to post
double digit increases in revenues and profits during its fiscal
In an earnings statement on Wednesday for the full year to
the end of June, the company said revenue increased 15 percent
to 238.7 million pounds while pre-tax profits were up 21 percent
at 152.8 million pounds.
The numbers beat analyst estimates which averaged 149
million pounds for profits and 234 million pounds for revenues
according to Thomson Reuters data.
In spite of ongoing growth, however, weak stock markets
through the reporting period caused the rate of new business to
Assets under administration grew 7 percent over the period
to 26.3 billion pounds but net business inflows of 3.2 billion
pounds were 9 percent lower than the previous year.
"This year, the succour of a stock market rise
disappeared... All in all it is not surprising that the general
retail investment market fared badly," the company said.
The company sharply increased its dividend, up 20 percent
for the full year to 22.59 pence per share.
It also announced co founder and second largest shareholder
Stephen Lansdown, who owns a fifth of the company and has served
as a non executive director for two years, will be stepping down
from the board.
Hargreaves Lansdown shares closed on Tuesday at 630.5 pence.