PlayBarclays suffers 33% profits slump
Published: Thursday, 7 August 2008, 7:58AM
Barclays has suffered a 33 per cent first-half profits slump thanks to £2.8 billion of credit crunch write-downs.
The group posted a pre-tax figure of £2.75 billion for the six months to June 30 after racking up another £1.1 billion of credit crunch impairments on top of the £1.7 billion reported during the first three months.
Chief executive John Varley said the group had experienced "significant" write-downs and that profits decline was "acutely disappointing".
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