Barclays Reports 38% Drop In Net Profit

Barclays PLC BCS reported a 38% decline in its first-half net profit. Barclays net profit dropped to 1.5 billion pounds ($2.45 billion). Barclays' pretax profit declined 33% to 2.64 million pounds. On an adjusted basis, Barclays' pretax profit climbed 24% to 3.68 billion pounds. However, analysts were expecting a pretax profit of 2.43 billion pounds. Barclays shares fell 1.44% to close at $14.35 yesterday.