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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 202.35
Bid: 202.15
Ask: 202.25
Change: 1.35 (0.67%)
Spread: 0.10 (0.049%)
Open: 202.50
High: 203.40
Low: 199.58
Prev. Close: 201.00
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UPDATE: Barclays To Miss Market Consensus For 2013 Adjusted Pretax Profit

Mon, 10th Feb 2014 10:57

LONDON (Alliance News) - Barclays PLC Monday said it will report a GBP5.2 billion adjusted pretax profit for 2013, meaning it will miss consensus estimates by about GBP200 million.

Barclays shares were Monday quoted at 275.27 pence, up 3.57 pence, or 1.3%, despite the miss.

On Friday, Barclays had said analysts were forecasting GBP5.41 billion in adjusted pretax profit.

It reported a GBP7.60 billion adjusted pretax profit for 2012.

Barclays' adjusted pretax profit excludes certain provisions, including the impact of its own credit, gains on debt buybacks, and gains and losses on acquisitions and disposals.

In an unscheduled update ahead of its results for the year ended December 31 2013, Barclays also said it will report a GBP2.9 billion statutory pretax profit for the year, compared with GBP797 million the year before.

The results are expected to include details on Barclays' plan to further improve its leverage position as it strives to meet the June deadline for the 3.0% leverage ratio target set by regulators last year, while Chief Executive Antony Jenkins will also update the progress of Transform, a package of measures designed to increase its return on equity above its cost of equity, to change its culture, and cut costs, amongst other commitments.

The update came after a difficult weekend for Barclays, with the Mail on Sunday reporting that up to 27,000 files containing sensitive information and data relating to the bank's customers had been stolen and sold.

Barclays has since launched an investigation in response to the report.

The customer files are said to include health and financial information as well as passport and national insurance numbers and were reportedly sold to City traders.

"It looks as though this was a criminal act," a spokesperson said. "We are cooperating with the authorities in order to find the person responsible."

The Mail on Sunday learned of the security breach when an anonymous whistleblower approached the tabloid with a USB stick containing the details of 2,000 customers.

Barclays is set to report results for its recent financial year on Tuesday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright © 2014 Alliance News Limited. All Rights Reserved.

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