In its interim management statement the independent financial services provider posted revenue up 16% to £112.9m for the period, meanwhile profits were up 28% to £72m.
Despite a backdrop of economic uncertainty and deteriorating investor confidence, and during time when others are reporting outflows, the firm saw net inflows of £1.16bn.
This was, however, down 13% on the same period in 2010 when Hargreaves Lansdown posted a record £1.34bn of net business inflows.
Ian Gorham, chief executive of the company, said: "In addition to delivering record revenues and profits we have improved our competitiveness, reduced charges and improved the functionality of our systems. We have continued to see flows of business from competitor, which is an emphatic confirmation of our strong market position."
With the move on 31 December to introduce a monthly platform fee on all tracker funds sitting on its Vantage platform, it’s clear not all costs are going south.
This is good news for the firm, which has clearly not struggled thus far in the economic downturn, as can be seen from the figures above.
