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Barclays Q1 profit doubles to 1.7 bln stg, takes one-off Africa hit
April 28, 2017 / 6:15 AM / 5 months ago

Barclays Q1 profit doubles to 1.7 bln stg, takes one-off Africa hit

LONDON, April 28 (Reuters) - 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. ($1 = 0.7750 pounds) (Reporting by Anjuli Davies; Editing by Rachel Armstrong)

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