LONDON, April 24 (Reuters) - British bank Barclays said first-quarter profit fell a quarter from a year ago after arise in losses in its European business and a hefty bill for thecost of a restructuring plan by its new chief executive.
Barclays on Wednesday reported an adjusted pretax profit forthe three months ended March of 1.79 billion pounds ($2.74billion), down from 2.4 billion a year ago and just below a meanforecast of 1.85 billion from analysts polled by the company.
Profits were dented by a 514-million-pound charge to covercosts associated with "Project Transform", CEO Antony Jenkins'plan to axe 3,700 jobs, prune the investment bank and reform thebank's culture after a series of scandals.
Barclays (BARC)