LONDON (dpa-AFX) - Lloyds Banking Group (LLOY.L, LYG) reported Thursday higher profit in its first half with growth in net income. The company also maintained its outlook for fiscal 2025 and fiscal 2026.
In the first half, profit before tax grew 5 percent to 3.50 billion pounds from last year's 3.32 billion pounds. Earnings per share were 3.8 pence, higher than prior year's 3.4 pence.
Profit growth in the period reflected higher net income, partly offset by higher operating costs and impairment charge.
Underlying profit before impairment grew 11 percent to 4.00 billion pounds from 3.598 billion pounds a year ago.
Net income was 8.914 billion pounds, a growth of 6 percent from last year's 8.393 billion pounds.
Underlying net interest income increased 5 percent year-over-year to 6.66 billion pounds, reflecting a banking net interest margin of 3.04%, up 10 basis points year-on-year.
Further, the company announced interim ordinary dividend of 1.22 pence per share, up 15% on the prior year.
Looking ahead, for fiscal 2025, Lloyds Banking continues to expect underlying net interest income of around 13.5 billion pounds.
The company further said it is confident in 2026 guidance amid current macroeconomic assumptions and with confidence in its strategy.
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