HBOS sees 2007 underlying EPS ahead of market view of 107.4p UPDATE |
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Wed, 25 Apr 2007 12:32
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(Updates with details on segment, share buy-back outlook)LONDON (Thomson Financial) - HBOS PLC said it has made a good start to the year and is confident of delivering underlying earnings per share ahead of the current market consensus of 107.4 pence.It sees the first-half net lending share below its normal range of 15-20 pct and expects to return to this range in the second half, the banking group said in an AGM statement.It added that corporate trading both in the UK and Europe is strong with originations again exceeding asset retentions.In investment, it expects to deliver good double digit sales growth year-on-year, while in insurance, it has seen good growth in policy volumes, particularly in household, despite continued market pricing pressures.The company said its international business volumes have made a good start to the year with have ry encouraging growth' in both lending and deposit taking, adding that overall the outlook for the credit environment remains strong and as previously guided.On share buy-backs, HBOS said it continues to generate surplus capital, which will be returned to shareholders, with share buy-backs for the 2007 programme progressing well and currently totaling 200 mln stg.TFN.newsdesk@thomson.compmi/nesCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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CORRECTION HBOS FY pretax profits up 14 pct UPDATE 