By Sabela Ojea
Hargreaves Lansdown PLC on Thursday said that assets under administration and revenue increased during the first quarter of fiscal 2021, adding that it has made a good start to its financial year, which included growth in clients.
The retail-investment platform said assets under administration for the three months ended Sept. 30 rose to 106.9 billion pounds ($138.10 billion), compared with GBP101.8 billion a year earlier.
Net new business decreased to GBP800 million from GBP1.7 billion, it said.
The FTSE 100-listed company's revenue also increased, to GBP143.7 million from GBP128.1 million, said Hargreaves Lansdown.
"We are confident that the strategy we have invested in, with our focus on the needs of U.K. investors and savers and delivering the highest level of client service, means that we continue to be well positioned to deliver continued attractive long-term growth," said Chief Executive Chris Hill.
Write to Sabela Ojea at firstname.lastname@example.org; @sabelaojeaguix