Legal & General Group Full Year 2023 Earnings: EPS: UK£0.074 (vs UK£0.13 in FY 2022)
Legal & General Group (LON:LGEN) Full Year 2023 Results
Key Financial Results
Revenue: UK£11.1b (up 8.0% from FY 2022).
Net income: UK£435.0m (down 43% from FY 2022).
Profit margin: 3.9% (down from 7.4% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: UK£0.074 (down from UK£0.13 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Legal & General Group Earnings Insights
The primary driver behind last 12 months revenue was the Legal & General Retirement Institutional (LGRI) segment contributing a total revenue of UK£5.26b (48% of total revenue). Notably, cost of sales worth UK£8.66b amounted to 78% of total revenue thereby underscoring the impact on earnings.Explore how LGEN's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Insurance industry in the United Kingdom.
Performance of the British Insurance industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Legal & General Group (at least 1 which doesn't sit too well with us), and understanding these should be part of your investment process.
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