Legal & General Shares Rise 0.5% After H1 Profit Climbs 7%

1 articles · Updated · Yahoo Finance UK · Aug 5

Core operating profit rose 7% in the first half, while core operating EPS increased 11% as Legal & General reduced its share count through buybacks.
Asset Management helped drive the result, with fee-related earnings up 73%, record new business and £5.7 billion of pension risk transfer schemes secured by July 31.
Legal & General said it is on track to meet or exceed strategic targets and expects 2026 core EPS growth at the top end of its 6%-9% range.
Investor reaction stayed muted because the Solvency II ratio fell to 201% from 217% and the stock of operating profit from pensions slipped by £75 million, though solvency remains above the firm's 160%-190% target range.
The group also raised its interim dividend 2%, reinforcing the income appeal that has kept it among the FTSE 100's highest-yielding shares.