Barclays reports 9 pct gain in H1 adjusted profit

LONDON (AP) ? Barclays PLC has reported a 9 percent gain in adjusted net profit in the first half of the year thanks to lower operating costs and modest growth in income.

The bank said Friday that adjusted net profit for the six months ending June 30 was 3.1 billion pounds ($4.9 billion) compared to 3.7 billion pounds a year earlier.

Revenue net of insurance claims was up 1 percent to 15.5 billion pounds.

Adjusted pretax profit of 4.2 billion pounds beat the analysts' consensus of 3.8 billion pounds.

The adjusted figures excluded the impact of a 3 billion pounds loss charged to own credit in the first half and an own credit gain of 2.6 billion pounds a year earlier.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-07-27-Britain-Earns-Barclays/id-72c6ea91bd49479da0a22a563442c32f

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