RBS profits £9m or £1.1b?
Discussion
RBS swings back into the black
By Michael Hewson
Date: Friday 06 Aug 2010
It’s been a long three years but RBS finally swung back into the black with a net profit of £9m in the first six months of the year.
Before tax the bank reported a profit of £1.1bn, against a loss of £296m in the same period last year.
CEO Stephen Hester said the numbers show RBS is “on track to meet the far-reaching goals of our five year restructuring plan which commenced last year”.
By Michael Hewson
Date: Friday 06 Aug 2010
It’s been a long three years but RBS finally swung back into the black with a net profit of £9m in the first six months of the year.
Before tax the bank reported a profit of £1.1bn, against a loss of £296m in the same period last year.
CEO Stephen Hester said the numbers show RBS is “on track to meet the far-reaching goals of our five year restructuring plan which commenced last year”.
http://www.bbc.co.uk/news/business-10889684
bbc show £1.1b profit pre tax for H1 2010.
http://news.sky.com/skynews/Home/Business/RBS-Repo...
SKY news report a £9m profit?
Is it just the beer Im sipping round the pool here far too quickly in the 36 degree heat or is one news source incorrect?
bbc show £1.1b profit pre tax for H1 2010.
http://news.sky.com/skynews/Home/Business/RBS-Repo...
SKY news report a £9m profit?
Is it just the beer Im sipping round the pool here far too quickly in the 36 degree heat or is one news source incorrect?
BBC are quoting Q2 or First Half Group Operating Profit/Loss (before Tax) (and excluding writedown of goodwill and other intangible assets) = £1,157 million or £1,136 million respectively.
Sky are quoting First Half Profit/(loss) attributable to ordinary and B shareholders = £9 million.
Sky are quoting First Half Profit/(loss) attributable to ordinary and B shareholders = £9 million.
musclecarmad said:
Go lie on your sun lounger, look at the women in bikini's and have some beers. Worry about it when you get back 
Oh yes been here a week now 4 books read aim is to do nothing but relax beer good food. Just a passing interest in the stock prices - note of my holidings.Frankeh said:
Looks like I should have bought when everyone said they were going to go under.
It was like 15p a share IIRC. Dammit.
I know the second I actually take the dive into stocks I'll f
k up though.
it was 10.1p at the lowest! i got in a 18p, couple of sells ad rebuys later and its turned out not to be a bad punt It was like 15p a share IIRC. Dammit.
I know the second I actually take the dive into stocks I'll f
k up though. once the govt sells its shares and they announce return to divi payments it'll be a nice nest egg hopefully
Nano2nd said:
Frankeh said:
Looks like I should have bought when everyone said they were going to go under.
It was like 15p a share IIRC. Dammit.
I know the second I actually take the dive into stocks I'll fk up though.
it was 10.1p at the lowest! i got in a 18p, couple of sells ad rebuys later and its turned out not to be a bad punt It was like 15p a share IIRC. Dammit.
I know the second I actually take the dive into stocks I'll f
k up though. once the govt sells its shares and they announce return to divi payments it'll be a nice nest egg hopefully
t and undervalues almost everything for no good reason. Buy buy buy.
Welshbeef said:
So RBS have made a pre tax profit of £1.1b for H1 2010.
Where does the £9m come into play?
The £1.157 Billion operating profit was from Q2 of H1 and excluded write down of goodwill etcWhere does the £9m come into play?
That left them with a net profit of £257m in Q2 of H1
In Q1 of H1 they had a net loss of £248m
So the result for H1 is a net profit of £9m
Hope that makes a bit more sense?
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