Barclays reported its first quarter profit more than doubled on Friday, driven by lower losses in its non-core unit even as the British bank booked a one-off charge on its Africa business.
Barclays said its profit before tax was 1.7 billion pounds ($2.19 billion), up from 793 million pounds a year ago and better than the 1.46 billion pounds average estimate of analysts’ forecasts compiled by the bank.
Barclays said it would take a one-off goodwill impairment charge of 884 million pounds on its stake in Barclays Africa Group, which it has given itself 2-3 years to sell.
