BCS Barclays PLC

   By Adam Clark 
 

Barclays PLC (BARC.LN) reported its 2017 results on Thursday at 0700 GMT. Here's what we watched:

PROFIT: Barclays' pretax profit rose to 3.54 billion pounds ($4.91 billion) from GBP3.23 billion in 2016. This missed analysts' expectations of GBP4.02 billion, according to FactSet.

On a net basis, Barclays reported a loss of GBP1.92 billion compared with a GBP1.62 billion profit in 2016. The results were hit by losses related to the sell down of Barclays' African operation, and a one-off charge due to U.S. tax reform.

REVENUE: Total income dropped 2% to GBP21.08 billion from GBP21.45 billion. This was below a FactSet consensus estimate of GBP21.17 billion.

DIVIDEND RESTORATION: The bank declared a total dividend of 3.0 pence a share for 2017. Barclays also said it intends to pay a dividend of 6.5 pence a share in 2018. This returns the payout to the level it was at in 2015, when it was slashed to fund the bank's restructuring, and led to a more-than 5% increase in the share price in morning trading in London.

INVESTMENT BANK: The investment bank continued to drag on results, with markets revenue slumping 17% in the last quarter compared with the year before. However, Barclays said a return to volatility in 2018 has helped boost trading revenue ahead of the prior year.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

February 22, 2018 07:06 ET (12:06 GMT)

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