Hargreaves Lansdown profits up 18% as inflows soar

The company made £86.3m in the period compared with £73.1m in the 12 months to 30 June 2009. Net inflows climbed from £2bn last year to £3.3bn in 2010, while total assets under administration advanced 47%, from £11.9bn to £17.5bn. Of this, £16.3bn of assets were held within the Vantage service. "Revenue, profits and earnings per share have achieved record levels and although these measures have been helped by a rise in stock markets across the year, the more significant contribution has been from record organic growth," outgoing CEO Peter Hargreaves says. He says the company has we...