Barclays profits flat on weakening business levels

Thursday, November 11, 2010

LONDON - Barclays has reported a small rise in underlying profits in the latest quarter as business continued to slow.

Total profits for the third quarter were £1.27bn ($2.03bn) before adjusting for the rising market value of Barclays debts, up 8.5% from the previous quarter, but down 28% from a year ago.

Net of this "own credit charge" profits before tax were only £327m, down 76%.

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