L&G profits and divi rise thanks to ‘levelling up’ role

LEGAL & General’s role in the Government’s levelling-up agenda continues to pay off with the investment giant today reporting half-year results well ahead of pre-Covid levels alongside a 5% dividend rise.

Operating profits lifted 14% to £1.08 billion in the first half of 2021, with its capital investment arm doubling profits to £250 million on the rebound in housebuilding.

L&G said: “We are creating much needed jobs, homes and infrastructure, driving growth, skills and innovation, and contributing towards a clean and green future.”

Shares rose 6.6p to 270.4p after CEO Nigel Wilson said he expects double-digit growth for the full year.