0853 GMT - Lloyds Banking Group posted a soggy set of first-quarter numbers, Keefe, Bruyette & Woods say in a research note. Pretax profit fell and missed expectations due to higher costs and impairments despite an increase in income. "Arguably the misses are temporary," analysts Edward Firth and Elise Yu Ge write, referring to the frontloading of severance payments to employees in the period and tariff-related provisions. It is hard to see zero remediations--which include charges for regulatory probes or customer complaints-- as sustainable, they add, given there were no remediation expenses compared with the normal around 200 million pounds annualized. Shares fall 2.2% to 71.69 pence. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 04:54 ET (08:54 GMT)
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