UK Stocks

Hargreaves Lansdown shares sink 15% as Covid share trading trend dips

Hargreaves Lansdown’s first-half profits sink 20%.

Hargreaves Lansdown (LON: HL) shares have sunk 15% as investors ditch trading from home and return to the office.

The FTSE 100 listed retail investment platform reported a 30 per cent decrease in profits during the first half of its 2022 trading year.

Pre-tax profits fell to £151.2m in the six months to 31 December, compared with £188.4m a year earlier.

Revenue slipped by 3 per cent year-on-year to £291.1m, which Hargreaves Lansdown attributed to lower interest on client money.

Total assets under administration increased 17% to £141.2bn.

Hargreaves Lansdown shares were down 15 per cent early and are down a third over the past year.

However, there was some good news for shareholders as the company upped its interim dividend by 3 per cent to 12.26p per share.

Not Investment Advice Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.

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