Barclays' Q4 profit misses estimates

London

BARCLAYS plc posted fourth-quarter profit that missed analysts' estimates on a charge for accelerating the costs of deferred bonuses, while the bank signalled progress in its effort to divest its Africa unit and sell off unwanted assets.

Pretax profit was £330 million (S$581 million), from a loss of £2.1 billion a year ago, the London-based lender said on Thursday. Adjusted pretax profit rose to £284 million, falling short of the £646 million average estimate of five analysts surveyed by Bloomberg News.