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Barclays profit before tax down 1 percent

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Staff Writer | Thursday February 21, 2019 4:25AM ET
Barclays
Barclays   Profit after tax in respect of continuing operations climbed 82 percent

Barclays reported Thursday that its fiscal 2018 profit before tax edged down 1 percent to 3.494 billion pounds from 3.541 billion pounds last year.


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The latest results included litigation and conduct charges of 2.2 billion pounds, compared to last year's 1.2 billion pounds. The charges were principally related to a 1.4 billion pounds settlement with the US Department of Justice with regard to Residential Mortgage-Backed Securities.

Excluding litigation and conduct charges, Group profit before tax increased 20% to 5.7 billion pounds.

Profit after tax in respect of continuing operations climbed 82 percent to 2.37 billion pounds.

Attributable profit was 1.4 billion pounds, compared to loss of 1.9 billion pounds a year ago. Basic earnings per share were 9.4 pence, compared to loss per share of 10.3 pence.

Excluding litigation and conduct, attributable profit was 3.53 billion pounds, compared to loss of 772 million pounds last year. Adjusted profit was 21.9 pence per share, compared to loss per share of 3.5 pence.

Total income was 21.136 billion pounds, compared to 21.076 billion pounds last year.

Further, Barclays declared a total dividend of 6.5p for 2018.

Looking ahead, Barclays said it is on track in the execution of its strategy and continues to target a RoTE1 of greater than 9% for 2019 and greater than 10% for 2020.

 

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