News article

Half-year profit up at Barclays

Half-year profit up at Barclays
//
Barclays has posted a pre-tax profit of £2.98 billion for the first half of 2009.

The figure is up eight per cent year-on-year, after the bank made £2.75 billion during the same period in 2008.

Those trading on the stock market may be interested to note that the financial institution was aided by a strong performance from Barclays Capital, where profit before tax more than doubled, climbing to £1.05 billion.

Poorer results from its retail banking operations offset this gain, however, with this area of the business seeing profit drop by over half to £268 million.

Chief executive John Varley said that the bank has made a "good start" to its aim of delivering "solid" profits over the 12-month period.

He said that Barclays had performed well in spite of the "challenging market conditions", adding: "We have continued to benefit from our diversified business base."

Barclays shares rose on the news, climbing 19.05p to 321.25p in London at 10:43 BST.ADNFCR-1681-ID-19293127-ADNFCR