'Acutely Disappointing' Profits Fall for Barclays ; Significant' Write-Downs Get the Blame
Western Mail › August 08, 2008
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Summary
BARCLAYS has revealed a 33% first half profits slump as the bank suffered pounds 2.8bn of credit crunch write-downs.
The group posted pounds 2.75bn of pre-tax profits for the six months to June 30 after racking up another pounds 1.1bn of credit crunch impairments on top of the pounds 1.7bn reported during the first three months.See the full content of this document
Extract
'Acutely Disappointing' Profits Fall for Barclays ; Significant' Write-Downs Get the Blame
Barclays chief executive John Varley said the group had experienced "significant" write-downs and that the profits decline was "acutely disappointing".
B...See the full content of this document
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