Barclays PLC (BUE:BCS)

ARS 11920.5 -74 (-0.62%) Market Cap: 35.52 Til Enterprise Value: -112.68 Til PE Ratio: 8.07 PB Ratio: 0.45 GF Score: 45/100

Q1 2019 Barclays PLC Earnings Call Transcript

Apr 25, 2019 / 08:30AM GMT

Release Date Price: ARS39.7

Transcript

Operator

Welcome to the Barclays Q1 2019 Results Analyst and Investor Conference Call. I'll now hand you over to Jes Staley, Group Chief Executive; and Tushar Morzaria, Group Finance Director.

James Edward Staley

Barclays PLC - Group CEO, Interim CEO of Barclays Bank Plc & Executive Director

Good morning, everyone. My opening comments will be short today given it was a pretty straightforward quarter. Today, we've announced that Barclays earned GBP 1 billion of attributable profit in the first 3 months of 2019. We earned 6.3p per share. Profit before tax was GBP 1.5 billion with positive jaws driven by a 3% reduction in cost versus a 2% reduction in revenue. Our group cost-income ratio was 62%, a modest improvement over last year, and we will continue to target a ratio of 60% or better over time.

From a revenue perspective, BUK produced another solid quarter. Within the CIB, Investment Banking fees were weak. But for sixth consecutive quarter, we outperformed our U.S. peers on average in the markets business, which, like Q1 last year, generated a double

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