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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)
Historical Stock Chart


From Dec 2019 to Jun 2020

Click Here for more Lloyds Banking Charts.

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.

 

WHAT WE WATCHED:

 

-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 sabela.ojea@wsj.com; @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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