Legal & General reports H1 2026 profit rise and raises guidance

Legal & General reported a 7% increase in core operating profit to £918 million for the first half of 2026. Following these results, management raised its full-year profit growth expectations to exceed the previous target range of 6% to 9%.

The company’s Asset Management division saw a 37% year-on-year increase in fee-related earnings, contributing to total global assets under management reaching £1.2 trillion. Additionally, the firm is executing a £1.2 billion share buyback programme, with approximately £450 million completed by the end of July 2026.

While the share price recently surged, hitting over 300p for the first time in nearly five years, it has since experienced volatility. The stock maintains a high dividend yield of 7.7%, the highest in the FTSE 100, though some analysts have expressed caution regarding its valuation following the recent rally.