Barclays profits tumble

Pre-tax profits in the first half of 2008 were £2.75bn, down from £4.1bn during the same period in 2007. The firm will pay a dividend of 11.5p per share, the same interim dividend paid in 2007. John Varley, group chief executive of Barclays, comments: “In the difficult environment of the first half of 2008, Barclays remained solidly profitable, albeit at levels below the record performance achieved last year. “We were helped by the earnings diversification that we have created across the Group and by our improved ability to flex both costs and balance sheet.” The bank was writedown ...