Hargreaves Lansdown, the UK-listed financial advisory and investment management firm, said its pre-tax profit for the year ending on 30 June rose by 20 per cent year-on-year to £73.1 million.

The firm’s operating profit margin has risen to 52.5 per cent from 48 per cent a year before, while its revenues rose by 10 per cent to £132.8 million.

Assets under administration rose by 7 per cent to £11.9 billion, a performance that will be encouraging to the firm as its reporting period coincided with big falls in financial markets and a partial recovery since the start of 2009.

“We have no illusions that we can rest on our laurels. Markets are still nervous and we expect more turbulence. We are conscious that some revenues we have enjoyed in the past will be materially reduced. However my team have identified areas which we believe can be profitable and hopefully replace these lost revenues but market conditions will still have a major part to play," said Peter Hargreaves, chief executive.