The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 52.56
Bid: 52.56
Ask: 52.60
Change: 0.50 (0.96%)
Spread: 0.04 (0.076%)
Open: 52.38
High: 52.90
Low: 52.26
Prev. Close: 52.06
LLOY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Aberdeen Asset chief sees greater post-acquisition gains

Tue, 24th Jun 2014 16:00

MONACO, June 24 (Reuters) - British fund manager AberdeenAsset Management Plc sees greater than forecast savingsfrom its recent SWIP acquisition and expects to raise itsdividend this year, as well as seeing scope to buy back shares,its chief executive said on Tuesday.

Speaking on the sidelines of the Fund Forum conference inMonaco on Tuesday, Martin Gilbert said the integration of SWIPwas going well and the group was focused on "the hard bit",around front-office integration, which should be finished in thenext two to three weeks.

Once the acquisition from Lloyds Banking Group Plc was complete, Gilbert saw cost savings from the deal exceedingthe previously expected total of between 48 million pounds($81.6 million) and 50 million, although he declined to commentfurther.

He reiterated a plan to increase the dividend and buy backshares. "We'd really like to see the dividend increasing andthen buying back shares after that."

With analysts predicting a flat year in terms of earnings,Gilbert said he would still look to increase the dividend andsaid broker estimates for an increase of between 10 and 15percent were "not unreasonable".

In the full year to Sept. 30, 2013, Aberdeen - based in theScottish city after which it is named - increased its dividend39 percent to 16 pence. The 2014 half-year payout was up 12.5percent to 6.75 pence.

BROADLY NEUTRAL

Aberdeen recently warned its profits had been hit by clientspulling money out of its core emerging markets funds and Gilbertsaid that after a "difficult" 2013 for emerging market equityoutflows, which continued into the first two months of 2014, theoutflow had slowed in March and was now "broadlyneutral".

He also said he had no near-term plans to add to a run ofacquisitions, most recently of SWIP which was completed at theend of March.

"This financial year, to 30th September, is the year when weintegrate SWIP. The next financial year is when we see a cleanset of numbers for our business and we're hoping to see growth,especially in those areas we've just beefed up," including fixedincome and UK property, he said.

"We've no plans to do any (more) acquisitions and we're notin discussions with anyone."

With Scotland due to vote on whether to leave the UnitedKingdom on Sept. 18, Gilbert said Aberdeen would stick to aneutral stance on the issue of independence - contrasting withpeers such as Standard Life Plc who have gone public withconcerns about the implications of a "yes" vote.

"The people that have (taken a stance) have taken it forwhatever reason, only they will know. But I'm not sure it's beenthe best strategy, to take a stance, because you do run the riskof attracting criticism from whatever side of the equation.

"I think it's best, on this occasion, to keep your headdown."($1 = 0.5880 British Pounds) (Editing by David Holmes)

More News
30 Jan 2024 09:32

LONDON BROKER RATINGS: BoA cuts Barratt, Persimmon; ups Taylor Wimpey

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
29 Jan 2024 11:31

Lloyds to scrap mobile bank branches as moves towards online banking

(Alliance News) - Lloyds Banking Group PLC is shutting down its mobile banking service this year, after revealing plans to shed 1,600 jobs across its branch network as it moves ahead in the shift towards online banking.

Read more
25 Jan 2024 14:41

Lloyds Banking Group to cut 1,600 jobs across branch network

(Sharecast News) - Lloyds Banking Group said on Thursday that it will cut around 1,600 jobs across branches as it continues to shift its focus to online banking.

Read more
25 Jan 2024 10:36

BoE says 'ring fencing' capital rules for retail banks need no big overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked satisfactorily with no major overhaul needed.

Read more
25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

Read more
23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

Read more
23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
22 Jan 2024 08:34

LONDON MARKET OPEN: FTSE 100 follows New York into the green

(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

Read more
18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

Read more
17 Jan 2024 12:00

LONDON MARKET MIDDAY: UK inflation uptick, weak China data hits stocks

(Alliance News) - Stock prices in London were lower at midday Wednesday, as hotter-than-expected UK inflation data served as a setback to early rate cut expectations.

Read more
15 Jan 2024 16:57

LONDON MARKET CLOSE: Sluggish stocks slip back in absence of US spur

(Alliance News) - Stocks in London were marked lower on Monday with the lack of direction from Wall Street, with US markets closed, adding to the subdued mood.

Read more
11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

*

Read more
11 Jan 2024 11:36

UK finance watchdog probes possible motor finance misconduct

LONDON, Jan 11 (Reuters) - Britain's finance watchdog said on Thursday it would start looking into the motor finance industry, amid rising tensions between thousands of consumers and finance providers about commission arrangements.

Read more
11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

Read more
4 Jan 2024 12:56

Royal London tabling bid to buy bulk annuities from Lloyds - report

(Sharecast News) - Life insurance, pensions and investments group Royal London is in discussions to purchase Scottish Widows' bulk annuities arm, according to Sky News.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.