Hargreaves Lansdown's one of best run companies in the world - Bristol should be proud, says founder Peter Hargreaves
THE founder of financial services firm Hargeaves Lansdown says Bristol should be proud of the firm and its achievements.
Peter Hargreaves, pictured, claimed his firm is one of the best run in the world as another record set of results were published.
The firm, which is one of the city's biggest success stories, saw a 30 per cent increase in profits over the last six months and made almost £94 million in profits.
The Harbourside-based company was set up 30 years ago in a bedroom by Peter Hargreaves and Stephen Lansdown and is now one of the most successful firms in the South West.
Business Cards From Only £10.95 Delivered www.myprint-247.co.ukView details
Our heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.
Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk
Contact: 01858 468192
Valid until: Wednesday, May 22 2013
The founders have become two of the richest men in the city as a result of the firm's success.
Over the last six months revenue rose by 24 per cent to £140.3 million and the company now controls £7 billion of its customers' investments – an increase of 30 per cent.
Mr Hargreaves, who stepped down as chief executive last year, but still plays a major part in the business spoke of his pride at the firm's achievements.
He said: "I would say we are not just one of the best run companies in the country we are one of the best run companies in the world. We are continuing to grow all the time and we have taken on about 60 or 70 people this year, there are not many other companies in Bristol that are able to say that at the moment."
He added: "I think we make an incredible contribution to the city but that is not always appreciated in Bristol. We do great things and bring a lot of wealth into Bristol but that is not always recognised."
Mr Hargreaves has been a long time critic of the city council.
He said: "I don't know what they spend all the money on, it certainly doesn't go on improving the traffic and the roads. I am not sure that having a mayor is going to make that much difference, it is just another person looking to spend more of or money. I have always said it, but if it was up to me I would get rid of the lot of them, I think they are all just a complete time of waste and money."
As a result of the strong performance the firm has announced an interim dividend rise of 24 per cent to 6.3 pence per share, up from 5.1p at the end of June.
Chief executive Ian Gorham said: "Hargreaves Lansdown's results demonstrate that a reputable company can, even in this climate, add genuine benefit to the UK economy and public, whilst paying its taxes in full.
"Focusing on clients, Hargreaves Lansdown is helping UK retail investors to build their personal wealth. Funds, shares and other investments are a great way to save – more people should be encouraged to buy them."
The firm now has a 28 per cent share of the market and last year joined the elite FTSE 100.