REMINDER: Our user survey closes on Friday, please submit your responses 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: 53.72
Bid: 53.62
Ask: 53.66
Change: 1.54 (2.95%)
Spread: 0.04 (0.075%)
Open: 52.98
High: 54.20
Low: 52.94
Prev. Close: 52.18
LLOY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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.
More News
27 Oct 2023 09:12

LONDON MARKET OPEN: NatWest trims outlook and admits Farage "failings"

(Alliance News) - London's FTSE 100 opened slightly lower on Friday, as banking stocks weighed on the index, with NatWest the worst of the lot after admitting to "serious failings" following a review of the controversial closure of UK politician Nigel Farage's Coutts account.

Read more
26 Oct 2023 11:44

Berenberg stays at 'hold' on Lloyds Banking

(Sharecast News) - Analysts at Berenberg reiterated their 'hold' rating and 58.0p target price on financial services giant Lloyds Banking Group on Thursday, stating it still sees better opportunities elsewhere.

Read more
26 Oct 2023 09:24

LONDON BROKER RATINGS: HSBC cuts Reckitt to 'hold' from 'buy'

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

Read more
26 Oct 2023 07:51

LONDON BRIEFING: PizzaExpress owner makes play for Restaurant Group

(Alliance News) - The FTSE 100 is set to open lower on Thursday, as investors nervously look ahead to a key interest rate decision from the European Central Bank, and US economic growth data.

Read more
25 Oct 2023 17:07

LONDON MARKET CLOSE: FTSE 100 fights off early losses in mixed trading

(Alliance News) - Stock prices in London closed mixed on Wednesday, as concerns over monetary policy and developments in the Middle East lingered.

Read more
25 Oct 2023 15:11

London close: Stocks end choppy session mixed

(Sharecast News) - London's stock markets closed with a mixed performance on Wednesday, as investors weighed a number of factors.

Read more
25 Oct 2023 09:10

LONDON MARKET OPEN: Essentra falls as profit hit; banks edge lower

(Alliance News) - Stock prices in London opened lower on Wednesday, as investors digest the latest company earnings.

Read more
25 Oct 2023 08:39

TOP NEWS: Lloyds Banking profit up and sticks with margin outlook

(Alliance News) - Lloyds Banking Group PLC on Wednesday maintained its annual net interest margin guidance and reported consensus-topping third-quarter profit, though top-line growth fell just shy of loftier expectations.

Read more
25 Oct 2023 07:49

LONDON BRIEFING: Reckitt begins USD1 billion buyback; Lloyds profit up

(Alliance News) - Stocks in London are expected to tread water on Wednesday, despite a strong performance in the US and Asia.

Read more
25 Oct 2023 07:01

Lloyds Bank Q3 profits surge despite lower lending

(Sharecast News) - Lloyds Bank reported a massive jump in third quarter profits as it continued to cash in on higher interest rates, despite a reduction in lending to customers amid tough macroeconomic conditions.

Read more
24 Oct 2023 12:00

LONDON MARKET MIDDAY: Stocks in red amid cooling UK economy

(Alliance News) - Stock prices in London were lower at midday Tuesday, though European peers were in the green, with the banking sector weighing on the FTSE 100 after less-than-stellar results from Barclays.

Read more
24 Oct 2023 09:22

LONDON MARKET OPEN: Banks weigh on FTSE 100 after Barclays disappoints

(Alliance News) - Stock prices in London opened lower on Tuesday, amid some disappointing UK company updates and the continuing uncertainty caused by the conflict in the Middle East

Read more
23 Oct 2023 11:15

Barclay family looks to stall crucial court case - report

(Sharecast News) - The Barclay family is seeking to postpone a court case that would see insolvency proceedings get underway for one of their key holding companies, it was reported on Monday.

Read more
18 Oct 2023 15:44

UK earnings, trading statements calendar - next 7 days

Thursday 19 October 
AJ Bell PLCTrading Statement
Centamin PLCQ3 Results
Deliveroo PLCTrading Statement
Dunelm Group PLCTrading Statement
GB Group PLCTrading Statement
Gear4Music PLCHalf Year Results
Hargreaves Lansdown PLCTrading Statement
London Stock Exchange Group PLCTrading Statement
Man Group PLCTrading Statement
Mondi PLCTrading Statement
PensionBee Group PLCTrading Statement
Rathbones Group PLCTrading Statement
Relx PLCTrading Statement
Rentokil Initial PLCQ3 Results
Sabre Insurance Group PLCTrading Statement
Schroders PLCTrading Statement
St James's Place PLCTrading Statement
Friday 20 October 
Foxtons Group PLCTrading Statement
InterContinental Hotels Group PLCTrading Statement
Record PLCTrading Statement
Monday 23 October 
Shanta Gold LtdTrading Statement
South32 LtdTrading Statement
Tuesday 24 October 
Angling Direct PLCHalf Year Results
Anglo American PLCTrading Statement
Barclays PLCQ3 Results
Bunzl PLCTrading Statement
FD Technologies PLCHalf Year Results
Gattaca PLCFull Year Results
Petra Diamonds LtdQ1 Results
Scancell Holdings PLCFull Year Results
Softcat PLCFull Year Results
Travis Perkins PLCTrading Statement
Trifast PLCTrading Statement
WAG Payment Solutions PLCTrading Statement
Wednesday 25 October 
Asos PLCFull Year Results
Bytes Technology Group PLCHalf Year Results
Critical Mineral Resources PLCTrading Statement
Ecora Resources PLCTrading Statement
Fresnillo PLCTrading Statement
Ibstock PLCTrading Statement
Lloyds Banking Group PLCTrading Statement
Reckitt Benckiser Group PLCTrading Statement
RWS Holdings PLCTrading Statement
ScS Group PLCFull Year Results
Virgin Wines UK PLCFull Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
11 Oct 2023 10:18

Mitie halfway through buyback, raises operating profit guidance

(Alliance News) - Mitie Group PLC on Wednesday said revenue increased by around 11% in its latest half year, and that it completed the first GBP25 million tranche of its GBP50 million share buyback.

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.