Barclays profits drop by a quarter

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Barclays has reported a 25% drop in profits for the first quarter of the year, due mainly to challenging market conditions.

Pre-tax profit for the first three months of the year was £793m, down from £1.1bn for the same period last year.

Barclays warned last month that its first quarter would be weaker than last year due to turbulent market conditions and a “particularly strong” March 2015.

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Barclays profits drop by a quarter
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