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Hargreaves Lansdown enjoys more than 15% share price boost

 


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Spread betting provider City Index ( http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 1st September 2011.

The share price of Hargreaves Lansdown has soared up London's premier stock exchange this morning (September 1st) following the publication of its financial results.

As of 09:44 BST, the organisation had advanced by 15.28 per cent on the FTSE 100, a 66-point rally on yesterday's close.

Indeed, it topped the table for the biggest risers during trading so far after revealing that for the year ended June 30th 2011, revenue increased by 31 per cent on the same period last year to £207.9 million.

Underlying profit before tax advanced by 42 per cent to £129 million, while profit before tax lifted by 46 per cent to stand at £126 million.

The positive results did not end there, with diluted earnings per share doubling to 19.6p.

Commenting on the report, chief executive of Hargreaves Lansdown Ian Gorham said: “Even though the investment market faces economic uncertainty, I believe that the company is extremely well placed to build on the momentum that has been generated. “

Learn more about financial spread betting with City Index.

Spread betting and CFDs are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.

Start spread betting: http://www.cityindex.co.uk/spread-betting/start-spread-betting.aspx

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* Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, financial spread betting .

We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more information.

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