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MSE News: Barclays profits hit by PPI payout
Former_MSE_Helen
Posts: 2,382 Forumite
This is the discussion thread for the following MSE News Story:
"Barclays reported a 33% drop in profits after it took a £1 billion hit to cover compensation for mis-sold PPI ..."
"Barclays reported a 33% drop in profits after it took a £1 billion hit to cover compensation for mis-sold PPI ..."
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Comments
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Does not compute.
So if without this compensation they would have seen profits increase by 24% to £3.7bn, this means the "base line" profit was £3bn - i.e. £3bn + 24% = £3.7bn.Barclays reported a 33% drop in half-year profits to £2.6 billion after it took a £1 billion hit to cover compensation
...
Without it, Barclays would have seen profits increase 24% to £3.7 billion in the period.
Which means profits were down by £0.4bn, which is 13% - i.e. £3bn - 13% = £2.6bn.
So, surely, profits are down 13% not 33%?0
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