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Hargreaves Lansdown upgrades profit outlook amid 'elevated' demand for equities
StockMarketWire.com
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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.
The company expects to provide further information when it produces its scheduled trading update on 13 May 2021 for the four months ending 30 April 2021.
Story provided by StockMarketWire.com
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