Barclays Plc 9-month Pretax Profit Declines - Quick Facts
(RTTNews) - Barclays Plc (BARC.L, BCS) reported profit before tax of 2.42 billion pounds for the nine months ended 30 September 2020 compared to 3.26 billion pounds, previous year. Basic earnings per ordinary share was 7.6 pence compared to 10.4 pence. Excluding litigation and conduct, profit before tax was 2.52 billion pounds compared to 4.94 billion pounds, prior year.
For the nine month period, net operating income was 12.48 billion pounds, down 16 percent from last year. Group income was at 16.8 billion pounds, up 3% from prior year. Group credit impairment charges increased to 4.3 billion pounds from 1.4 billion pounds, reflecting the impact from revised IFRS 9 scenarios and 0.7 billion pounds in respect of single name wholesale loan charges.
For third quarter, profit before tax was 1.1 billion pounds compared to 0.2 billion pounds, a year ago. Earnings per share was 3.5 pence compared to a loss of 1.7 pence. Group income was 5.2 billion pounds, down 6% from last year.
Barclays expects fiscal 2020 costs, excluding litigation and conduct, to be broadly flat versus fiscal 2019. The Group noted that it will be evaluating actions to reduce structural costs, which could result in additional charges.
"The Board recognises the importance of capital returns to shareholders and will provide an update on its policy and dividends at full year results," James Staley, CEO, said.
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