Hargreaves Lansdown has reported a fall in profits for the first half of its financial year, down from £188.4m to £151.2m.
Revenues at the group were also down from £299.5m a year ago to £291.9m. However, bosses have confirmed that the Bristol-based firm is ready for growth and the number of active clients increased by 48,000.
Chris Hill, the chief executive officer of Hargreaves Lansdown, said: “In the first half of this financial year, we saw a gradual return to the office and calmer markets which led to more normalised share trading levels, albeit still higher than before the pandemic.”
“As the market leader, with a stronger than ever 43.3% market share, now is the right time to target the broader wealth management market and set a new standard for how the UK saves and invests,” he added.
The group increased its dividend 3% to 12.26 pence per share.
At the time of writing, shares were down over 20% (0859GMT).
