Lloyds Missed 1st Half Profit View on Higher-than-Expected Impairments -- Earnings Review
30 Luglio 2020 - 2:58PM
Dow Jones News
By Sabela Ojea
Lloyds Banking Group PLC on Thursday reported earnings for the
first half of 2020. Here is what you need to know:
PRETAX PROFIT: Lloyds posted a swing to a pretax loss of 602
million pounds ($782.4 million) for the first half of the year
compared with a profit of GBP2.90 billion for the same period a
year earlier.
The bank was expected to report a pretax profit of GBP42
million, according to its own compiled consensus.
NET INCOME: The U.K. bank's net income for the first half fell
to GBP7.41 billion from GBP8.82 billion. Net income was expected to
be GBP7.4 billion for the first half of the year, according to the
bank's compiled consensus.
WHAT WE WATCHED:
--IMPAIRMENTS: Lloyds was expected to book impairments of GBP2.9
billion for the first half of the year, according to the bank's
compilation of consensus. However, it booked an impairment charge
of GBP3.82 billion for the period.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 30, 2020 08:43 ET (12:43 GMT)
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