ROBIN SAVAGE CANACCORD GENUITY
While first half profit is very close to our forecast, revenues are £2m higher and importantly, assets under administration are £1.5bn (i.e. four per cent) above our expectations. In addition, the equity market has been very strong year to date. We are revising our forecasts upwards.
MIKE VAN DULKEN ACCENDO MARKETS
Hargreaves continues to benefit from strong net client in-flows despite a tough consumer environment... The boost to results allows an increase in interim dividend in-line with top-line growth which will please income seekers (although yield not the biggest).
JAMES HAMILTON NUMIS
Customer growth, better equity markets and increased client optimism combined with easier customer switching bodes well for flows and profit development going forward. We upgrade our pre-tax profit forecasts four per cent this year .