UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
August, 2007
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
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This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
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EXHIBIT INDEX
Interim Results - 02 August, 2007
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of
the registrants has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: August 02, 2007 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: August 02, 2007 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Joint Secretary
Barclays Bank PLC
Results
Announcement
30th June 2007
Barclays Bank PLC
2nd August 2007
BARCLAYS BANK PLC
BARCLAYS BANK PLC IS A WHOLLY OWNED SUBSIDIARY OF BARCLAYS PLC
The Directors report the following results of the Barclays Bank PLC Group for
the half-year ended 30th June 2007:
CONSOLIDATED INCOME STATEMENT (UNAUDITED)
Half year ended
30.06.07 31.12.06 30.06.06
GBPm GBPm GBPm
Continuing operations
--------- --------- ---------
Interest income 12,037 11,261 10,544
Interest expense (7,450) (6,522) (6,140)
--------- --------- ---------
Net interest income 4,587 4,739 4,404
--------- --------- ---------
Fee and commission income 4,292 3,928 4,077
Fee and commission expense (480) (403) (425)
--------- --------- ---------
Net fee and commission income 3,812 3,525 3,652
--------- --------- ---------
Net trading income 2,810 1,429 2,203
Net investment income 396 588 374
--------- --------- ---------
Principal transactions 3,206 2,017 2,577
Net premiums from insurance contracts 442 550 510
Other income 130 171 86
--------- --------- ---------
Total income 12,177 11,002 11,229
Net claims and benefits incurred on
insurance contracts (248) (342) (233)
--------- --------- ---------
Total income net of insurance claims 11,929 10,660 10,996
Impairment charges (959) (1,097) (1,057)
--------- --------- ---------
Net income 10,970 9,563 9,939
--------- --------- ---------
Operating expenses excluding amortisation
of intangible assets (6,760) (6,332) (6,206)
Amortisation of intangible assets (87) (73) (63)
--------- --------- ---------
Operating expenses (6,847) (6,405) (6,269)
Share of post-tax results of associates and
joint ventures - 16 30
Profit on disposal of subsidiaries,
associates and joint ventures 5 323 -
--------- --------- ---------
Profit before tax 4,128 3,497 3,700
Tax (1,158) (869) (1,072)
--------- --------- ---------
Profit for the period 2,970 2,628 2,628
--------- --------- ---------
Profit attributable to minority interests 167 187 155
Profit attributable to equity holders 2,803 2,441 2,473
--------- --------- ---------
2,970 2,628 2,628
--------- --------- ---------
The information in this announcement, which was approved by the Board of
Directors on 1st August 2007, does not comprise statutory accounts within the
meaning of Section 240 of the Companies Act 1985 (the 'Act').
CONSOLIDATED BALANCE SHEET (UNAUDITED)
As at
30.06.07 31.12.06 30.06.06
GBPm GBPm GBPm
Assets
Cash and balances at central banks 4,785 6,795 6,777
Items in the course of collection from other banks 2,533 2,408 2,600
Trading portfolio assets 217,595 177,884 181,871
Financial assets designated at fair value:
- held on own account 46,171 31,799 18,833
- held in respect of linked liabilities to customers
under investment contracts 92,194 82,798 79,334
Derivative financial instruments 174,225 138,353 136,901
Loans and advances to banks 43,191 30,926 35,330
Loans and advances to customers 321,243 282,300 282,097
Available for sale financial investments 48,019 51,952 53,953
Reverse repurchase agreements and cash collateral
on securities borrowed 190,546 174,090 171,869
Other assets 6,289 5,850 5,866
Current tax assets 345 557 -
Investments in associates and joint ventures 228 228 560
Goodwill 6,635 6,092 5,968
Intangible assets 1,228 1,215 1,125
Property, plant and equipment 2,538 2,492 2,515
Deferred tax assets 774 764 776
----------- ----------- -----------
Total assets 1,158,539 996,503 986,375
----------- ----------- -----------
CONSOLIDATED BALANCE SHEET (UNAUDITED)
As at
30.06.07 31.12.06 30.06.06
GBPm GBPm GBPm
Liabilities
Deposits from banks 87,429 79,562 86,221
Items in the course of collection due to other banks 2,206 2,221 2,700
Customer accounts 292,650 256,754 253,200
Trading portfolio liabilities 79,252 71,874 74,719
Financial liabilities designated at fair value 63,490 53,987 43,594
Liabilities to customers under investment contracts 93,735 84,637 81,380
Derivative financial instruments 177,777 140,697 138,982
Debt securities in issue 118,745 111,137 102,198
Repurchase agreements and cash collateral on securities lent 181,093 136,956 146,165
Other liabilities 10,908 10,337 10,767
Current tax liabilities 1,003 1,020 592
Insurance contract liabilities, including 3,770 3,878 3,558
unit-linked liabilities
Subordinated liabilities:
- Undated loan capital - non convertible 5,697 5,422 4,743
- Dated loan capital - convertible 24 25 38
- Dated loan capital - non convertible 9,346 8,339 8,848
Deferred tax liabilities 258 282 430
Other provisions for liabilities 527 462 474
Retirement benefit liabilities 1,840 1,807 1,976
----------- ----------- -----------
Total liabilities 1,129,750 969,397 960,585
----------- ----------- -----------
Shareholders' equity
Called up share capital 2,366 2,363 2,357
Share premium account 9,493 9,452 9,354
Available for sale reserve 258 184 32
Cash flow hedging reserve (407) (230) (172)
Other shareholders' funds 2,565 2,534 2,570
Translation reserve (486) (438) (176)
Retained earnings 13,190 11,556 10,217
----------- ----------- -----------
Shareholders' equity excluding minority interests 26,979 25,421 24,182
Minority interests 1,810 1,685 1,608
----------- ----------- -----------
Total shareholders' equity 28,789 27,106 25,790
----------- ----------- -----------
Total liabilities and shareholders' equity 1,158,539 996,503 986,375
----------- ----------- -----------
CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE (UNAUDITED)
Half-year ended
30.06.07 31.12.06 30.06.06
GBPm GBPm GBPm
Net movements in available for sale reserve 63 202 (322)
Net movements in cash flow hedging reserve (280) (68) (419)
Net movements in currency translation reserve (48) (186) (595)
Tax 37 (14) 267
Other movements 23 (5) 30
----------- ----------- -----------
Amounts included directly in equity (205) (71) (1,039)
Profit for the period 2,970 2,628 2,628
----------- ----------- -----------
Total recognised income and expense for the year 2,765 2,557 1,589
----------- ----------- -----------
Attributable to:
Equity holders 2,655 2,414 1,718
Minority interests 110 143 (129)
----------- ----------- -----------
2,765 2,557 1,589
----------- ----------- -----------
The consolidated statement of recognised income and expense reflects all items
of income and expense for the period, including items taken directly to equity.
Movements in individual reserves are shown including amounts which relate to
minority interests; the impact of such amounts is then reflected in the amount
attributable to such interests. Movements in individual reserves are also shown
on a pre-tax basis with any related tax recorded on the separate tax line.
The available for sale reserve reflects gains or losses arising from the change
in fair value of available for sale financial assets except for items recorded
in the income statement which are: impairment losses; gains or losses
transferred to the income statement due to fair value hedge accounting; and
foreign exchange gains or losses on monetary items such as debt securities. When
an available for sale asset is impaired or derecognised, the cumulative gain or
loss previously recognised in the available for sale reserve is transferred to
the income statement. The movement in the first half of 2007 primarily reflects
the recognition of net unrealised gains from changes in fair value partially
offset by the transfer of net realised gains.
Cash flow hedging aims to minimise exposure to variability in cash flows that is
attributable to a particular risk associated with a recognised asset or
liability or a highly probable forecast transaction that could affect profit or
loss. The portion of the gain or loss on the hedging instrument that is deemed
to be an effective hedge is recognised in the cash flow hedging reserve. The
gains and losses deferred in this reserve will be transferred to the income
statement in the same period or periods during which the hedged item is
recognised in the income statement. The movement in the first half of 2007
primarily reflects net unrealised losses from changes in the fair value of the
hedging instruments partially offset by the transfer of net losses to the income
statement.
Exchange differences arising on the net investments in foreign operations and
effective hedges of net investments are recognised in the currency translation
reserve and transferred to the income statement on the disposal of the net
investment. The movement in the first half of 2007 primarily reflects changes in
the value of the US Dollar on net investments and the impact of changes in the
value of the Rand on the minority interest in Absa Group Limited partially
offset by the impact of other currency movements on net investments which are
hedged on a post-tax basis. The US Dollar net investments are economically
hedged through US Dollar-denominated preference share capital, which is not
revalued for accounting purposes.
SUMMARY CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)
Half-year ended
30.06.07 31.12.06 30.06.06
GBPm GBPm GBPm
Net cash flow from operating activities 2,934 954 9,103
Net cash flow from investing activities 3,990 161 (1,338)
Net cash flow from financing activities 755 (1,028) 1,593
Effects of exchange rate on cash and cash
equivalents (196) 938 (386)
-------- -------- --------
Net increase in cash and cash equivalents 7,483 1,025 8,972
Cash and cash equivalents at beginning of
period 30,402 29,377 20,405
-------- -------- --------
Cash and cash equivalents at end of period 37,885 30,402 29,377
-------- -------- --------
In order to provide more relevance to users and to enhance the comparability of
its financial statement presentation, the Group has changed certain
classification within the cash flow statement in 2006. Certain activities which
were categorised as operating activities have been reclassified as financing
activities and investing activities.
NOTES
1. Authorised share capital
Ordinary shares
The authorised ordinary share capital of Barclays Bank PLC at 30th June 2007 was
3,000 million (31st December 2006: 3,000 million) ordinary shares of GBP1 each.
Preference shares 30.06.07 31.12.06 30.06.06
'000 '000 '000
Authorised share capital - shares of GBP1 each 1 1 1
Authorised share capital - shares of GBP100 each 400 400 400
Authorised share capital - shares of US$0.25 each 80,000 80,000 80,000
Authorised share capital - shares of US$100 each 400 400 400
Authorised share capital - shares of EUR100 each 400 400 400
2. Issued share capital
Ordinary shares
The issued ordinary share capital of Barclays Bank PLC at 30th June 2007
comprised 2,332 million (31st December 2006: 2,329 million) ordinary shares of
GBP1 each.
The whole of the issued ordinary share capital of Barclays Bank PLC at 30th June
2007 is beneficially owned by Barclays PLC.
Preference shares
The issued preference share capital of Barclays Bank PLC at 30th June 2007
comprised GBP34m (31st December 2006: GBP34m) of preference shares of the
following denominations:
30.06.07 31.12.06 30.06.06
'000 '000 '000
Issued and fully paid shares of GBP1 each 1 1 1
Issued and fully paid shares of GBP100 each 75 75 75
Issued and fully paid shares of US$0.25 each 30,000 30,000 30,000
Issued and fully paid shares of US$100 each 100 100 100
Issued and fully paid shares of EUR100 each 240 240 240
3. Staff numbers
On a full time equivalent basis the total permanent and fixed term contract
staff at 30th June 2007 was 127,000 (31st December 2006: 122,600). Additionally,
agency staff totalled 15,000 (31st December 2006: 9,100).