Hargreaves Lansdown (HL) doesn’t need an asset-rich balance sheet to generate oodles of cash. In the year to June, the investment platform provider’s post-tax cash generation came to £262m, equal to 64 per cent of shareholder equity at the start of the period.
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Phil Oakley
Trainline shares might not yield cheap returns
The Trainline IPO looks like a classic private equity IPO where value is maximised for the selling shareholder at the expense of new investors
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