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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

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Share Price: 53.30
Bid: 53.28
Ask: 53.30
Change: 1.12 (2.15%)
Spread: 0.02 (0.038%)
Open: 52.98
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Low: 52.94
Prev. Close: 52.18
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Lloyds retail profit soars

Fri, 25th Feb 2011 07:08

State-controlled Lloyds Banking swung back into profit last year as impairment charges almost halved and retail net margins improved. Pre-tax profits were £281m, down from £1bn, but on a continuing basis profits were £2.2bn against a loss of £6.4bn. Market forecasts had been for a profit between £1-1.8bn. The £2.2bn profit excluded the £500m provision for Halifax customers issued badly worded mortgage agreements announced earlier this week.Lloyds says the continuing basis is a better measure. It assumes it owned HBOS all of last year and excludes a whole range of integration charges. After tax, there was still a net loss of £320m, against a profit of £2.84bn last time. Underlying total income increased by 3% to £23.6bn including core business income growth of 7%. Banking net interest margin improved to 2.1% (2009: 1.77%), though the bank says most of the improvement was seen in the first half and it is cautious on margins rising further.Profits at its retail division more than tripled to £4.7bn, compared with £1.3bn in 2009, aided by switching customers onto a more lucrative standard variable mortgage rate.Bad debt charges tumbled by 45% to £13.2bn from £24bn, despite an increase in Irish impairments of £1.3bn to £4.3bn. Changes in bank fees and lower overdraft charges meant other income decreased by 11% in 2010 to £1.6bn.Outgoing chief executive Eric Daniels did not say whether he would cash in his £1.45m bonus for 2010, which does not pay out until 2013. Brokers expressed disappointment with the numbers, suggesting the tail-off in the improvement in net interest margin and cautious comments over any further improvement 2011 and 2012 might hinder the possibility of dividends in 2012.Lloyds, which is 43% owned by the UK taxpayer, said it was a "Good trading performance against the backdrop of modest growth in UK economy." The bank added it provided £30bn of gross mortgage lending (including remortgages) and £49bn of committed gross lending to businesses, of which £11bn was for SMEs (small businesses). "Given the flexibility and capacity we have for core business growth, we continue to believe that the group has strong medium-term prospects, notwithstanding the economic and regulatory headwinds that we face in 2011," Mr Daniels added.
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23 Feb 2024 10:13

IN BRIEF: Lloyds launches GBP2 billion share buyback programme

Lloyds Banking Group PLC - Edinburgh-based financial services firm - Commences share buyback for up to GBP2 billion worth of ordinary shares. The buyback, conducted by Morgan Stanley & Co International PLC, will run until December 31. Lloyds says that the purpose of the programme is to reduce its ordinary share capital, and the company intends to cancel all repurchased shares.

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23 Feb 2024 09:19

LONDON BROKER RATINGS: Barclays raises Breedon but cuts Domino's Pizza

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

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22 Feb 2024 16:26

London close: Stocks rise amid raft of solid earnings

(Sharecast News) - London's stock markets finished in positive territory on Thursday, bolstered by upbeat performances from US AI chipmaker Nvidia and engine manufacturer Rolls-Royce.

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22 Feb 2024 09:59

CORRECT: Lloyds profit rises but books GBP450 million probe provision

(Correcting sum of Lloyds Banking Group PLC's final dividend.)

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22 Feb 2024 08:24

TOP NEWS: Lloyds profit rises but books GBP450 million probe provision

(Alliance News) - Lloyds Banking Group PLC on Thursday reported an annual profit surge and announced a new share buyback, though it said it has booked a provision in connection to a UK watchdog probe on historic motor finance arrangements.

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22 Feb 2024 07:49

LONDON BRIEFING: Lloyds sets aside GBP450 million for UK motor probe

(Alliance News) - Stocks in London are set to higher on Thursday, as earnings from Nvidia, at the heart of an artificial intelligence boom, did not disappoint.

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22 Feb 2024 07:03

Lloyds FY profit soars, puts aside £450m for motor finance probe

(Sharecast News) - Lloyds Bank on Thursday reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.

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21 Feb 2024 09:18

Thursday preview: Global PMIs, Lloyds in focus

(Sharecast News) - All eyes on Thursday will be on a raft of purchasing managers' surveys due out in the euro area, UK and US covering the month of January.

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20 Feb 2024 16:52

LONDON MARKET CLOSE: Pound boosted after BoE's Bailey talks rate cuts

(Alliance News) - Stock prices in London closed lower on Tuesday, whilst the pound bounced back, after the Bank of England's Andrew Bailey talked interest rate cuts.

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20 Feb 2024 11:57

LONDON MARKET MIDDAY: Banking stocks drag FTSE 100 into green

(Alliance News) - Stock prices in London were mixed at midday Tuesday, after a busy morning of corporate updates and earnings.

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20 Feb 2024 09:18

IN BRIEF: GCP Infrastructure enters into new revolving credit facility

GCP Infrastructure Investments Ltd - Jersey-based investment fund focused on infrastructure - Announces that it entered into a new revolving credit facility on Thursday. The RCF has a three-year term and has been agreed with Lloyds Bank PLC, Mizuho Bank Ltd, Allied Irish Bank and Clydesdale Bank PLC acting as lenders. GCP says it has reduced the total RCF commitments to GBP150 million from GBP190 million, in line with the company's capital policy as outlined in its 2023 annual report. In December, GCP adopted a policy realising around 15% of its portfolio, GBP150 million, to "rebalance sectors and reduce equity exposures, and to apply the funds towards a material reduction in the RCF", as well as to facilitate the return of at least GBP50 million to shareholders by the end of calendar 2024.

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20 Feb 2024 08:52

LONDON MARKET OPEN: Stocks slide; banks rise as Barclays outperforms

(Alliance News) - Stock prices in London opened in the red on Tuesday, as European markets failed to find upward momentum amid muted trading in Asia, and Monday's public holiday in the US.

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16 Feb 2024 14:59

London close: Stocks rise as UK retail sales rebound

(Sharecast News) - London's stock markets saw positive gains on Friday, buoyed by encouraging UK retail sales data and favourable earnings reports from NatWest.

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15 Feb 2024 14:42

UK earnings, trading statements calendar - next 7 days

Friday 16 February 
NatWest Group PLCFull Year Results
Segro PLCFull Year Results
TBC Bank Group PLCFull Year Results
Monday 19 February 
Bank of Cyprus Holdings PLCFull Year Results
MoneySupermarket.com PLCFull Year Results
Transense Technologies PLCHalf Year Results
Wilmington PLCHalf Year Results
Tuesday 20 February 
Antofagasta PLCFull Year Results
Barclays PLCFull Year Results
BHP Group LtdHalf Year Results
Coca-Cola Europacific Partners PLCFull Year Results
Gran Tierra Energy IncFull Year Results
InterContinental Hotels Group PLCFull Year Results
Petra Diamonds LtdHalf Year Results
Springfield Properties PLCHalf Year Results
Wednesday 21 February 
BAE Systems PLCFull Year Results
Conduit Holdings LtdFull Year Results
Glencore PLCFull Year Results
HSBC Holdings PLCFull Year Results
Rio Tinto PLCFull Year Results
Riverstone Credit Opportunities Income PLCFull Year Results
Tate & Lyle PLCTrading Statement
Thursday 22 February 
Anglo American PLCFull Year Results
Genus PLCHalf Year Results
Hargreaves Lansdown PLCHalf Year Results
Hays PLCHalf Year Results
Hikma Pharmaceuticals PLCFull Year Results
Indivior PLCFull Year Results
Jupiter Fund Management PLCFull Year Results
Lloyds Banking Group PLCFull Year Results
ME Group International PLCFull Year Results
Morgan Sindall Group PLCFull Year Results
Pantheon International PLCHalf Year Results
Rolls-Royce Holdings PLCFull Year Results
WPP PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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8 Feb 2024 13:50

Santander reportedly lodges complaint about Nationwide ad

(Sharecast News) - Santander UK has filed a formal complaint with Britain's advertising regulator over a Nationwide campaign which it claims "discredits and denigrates" the high street banking sector.

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