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21 February 2018

Lloyds optimistic despite missing forecasts

Lloyds has today (21st February 2018) hailed a “landmark year” as it reported a 24 per cent increase in profits.
Roy Kaitcer, Investment Manager, said: “Results were slightly below forecasts, with revenues at £18.5bn and total pre-tax profit up from to £5.3bn from £4.2bn last year, versus estimates of £5.73bn. Lloyds has also presented a £3bn programme to invest in digitisation and improving customer service and announced a £1bn share buyback.

“The update seems to have been received well by the market, with shares trading at 69.22p at 9am.” During the morning’s trading, Lloyds’ share price was up just over 1.5% on the previous day’s closing price, having opened at 70.00p at the start of today’s trading.

Please note, our view does not constitute a recommendation to buy or sell shares in Lloyds. Investments and income arising from them can fall in value and you may lose some or all of the amount you have invested. Past performance and forecasts are not reliable indicators of future results or performance.
 
Lloyds optimistic despite missing forecasts
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