Hargreaves Lansdown upgrades profit outlook amid 'elevated'

Hargreaves Lansdown upgrades profit outlook amid 'elevated' demand for equities | 17 March 2021


17 March 2021 | 07:15am
StockMarketWire.com - Wealth management company Hargreaves Lansdown upgraded its outlook on profit after reporting 'elevated' volumes of share dealing since the end of January.
The company said it now expects pre-tax profit for the financial year ending 30 June 2021 to be 'modestly above' the top end of analyst expectations, which were in range of £334 million to £360 million.
'Trading in January had been similar to previous lockdown periods with strong dealing volumes, significant engagement from clients and robust net new business and net new client numbers,' the company siad.
'The group has continued to see elevated volumes of share dealing since the end of January with an increased proportion of these directed towards international equities, driven by interest in US stocks from existing clients,' it added.

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