Barclays has posted a 13% rise in pre-tax profits as it announced a share buyback of £1 billion and new performance targets.
The bank reported a profit before tax of £9.1bn, up from £8.1bn in the previous 12 months and broadly in line with than the £9bin average of analysts’ forecasts.
It said it intended to splash out £15bn through dividends and buybacks between 2026 and 2028 in a bid to secure sustainable high returns.
Barclays also lifted its key profit target, targeting a return on tangible equity – a crucial measure that indicates a firm’s profitability relative to shareholder equity – of greater than 14%. This is up from previous guidance of greater than 12% in 2026.
Retail
UK retail sales increased by 2.7% year-on-year in January, above the 12-month average of 2.3%, according to the British Retail Consortium.
Chief executive Helen Dickinson said: “A drab December gave way to a brighter January as retail sales picked up pace.
“Many shoppers had held off Christmas spending and waited for the January sales, with the start of the new year showing the strongest growth.
“And bargain hunting was not limited to online, with in-store sales showing the highest growth in over six months.”
BP
Energy giant BP reported a lower fourth quarter profit of $1.5 billion, down from the previous quarter’s $2.2bn as a result of weaker oil prices.
The underlying replacement cost profit total for 2025 fell to $7.48bn from $8.9bn a year earlier.
Interim chief executive Carol Howle said: “2025 was a year of strong underlying financial results, strong operational performance, and meaningful strategic progress.
“We have made progress against our four primary targets – growing cash flow and returns, reducing costs, and strengthening the balance sheet – but know there is more work to be done, and we are clear on the urgency to deliver.”
#Barclays #splash #dividends #slips #retail #steady #Daily #Business