Lansdown to step down from Hargreaves board as profits jump 21%

The company's profit before tax was £152.8m, up from £126m in the previous 12 months, from total revenues of £238.7m, up from £207.9m. Revenues within the Vantage division were up 16% to £185.7m, while overall net business inflows were down 9% to £3.2bn. Meanwhile, the company took a £4.8m hit through Financial Services Compensation Scheme levy costs, up from £3.7 in 2010/11. The total dividend has been set at 22.59p per share, up 20% on last year. Alongside the results, the company has announced that co-founder Stephen Lansdown will step down from the board at the November annu...