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Hargreaves Lansdown profits drop 8% as platform ramps up technology spend
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investmentweek.co.ukIn the six months to 31 December 2023, the investment platform's statutory profits fell 8% to £182.5m, while net new business slowed to £1bn during the period, compared to £1.6bn last year as outflows ticked up. Combined with the net inflows, assets under administration reached a record of £142.2bn thanks to the rally in markets towards the end of the period, which delivered a positive market movement of £7.2bn. Total revenue for the period increased 5% to £368.2m, driven by both the growth in AUA across funds, shares and active savings and a continuation of higher net interest margi...
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