Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group Plc LSE:LLOY London Ordinary Share GB0008706128 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.07 3.47% 31.93 31.86 31.885 32.47 30.77 31.07 617,260,822 16:35:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks 42,356.0 4,393.0 3.5 9.1 22,606

Lloyds's 2019 Underlying Pretax Profit Hit by PPI Costs, Impairments -- Earnings Review

20/02/2020 12:47pm

Dow Jones News

Lloyds Banking (LSE:LLOY)
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From Dec 2019 to Jun 2020

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By Sabela Ojea


Lloyds Banking Group PLC reported its scheduled results for 2019 on Thursday. Here's what you need to know:


PRETAX PROFIT: Lloyds made a pretax profit of 4.39 billion pounds for 2019, a significant fall compared with GBP5.96 billion for the same period a year earlier, after being hit by PPI costs. Analysts had forecast Lloyds to make a pretax profit of GBP4.51 billion for the year, taken from FactSet and based on eleven estimates.


UNDERLYING PRETAX PROFIT: Underlying pretax profit for the year came to GBP7.53 billion from GBP8.07 billion in 2018--it was expected to come to GBP7.85 billion, also according to FactSet and based on eleven analysts' estimates.




-IMPAIRMENTS: The bank suffered impairments of GBP1.3 billion from GBP937 million at the end of 2018. This affected its underlying profit for the year, Lloyds said.


-BUYBACK PROGRAM: The British bank didn't resume its share buyback program which was suspended in the third quarter of the year.


Write to Sabela Ojea at; @sabelaojeaguix


(END) Dow Jones Newswires

February 20, 2020 07:32 ET (12:32 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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