StanChart on track with profit rise

摘要

STANDARD CHARTERED is on track to lift returns to above 10% in the medium term after posting a forecast-beating 3% rise in first-half profit and shrugging off concerns about the impact of escalating US-China trade tensions. The emerging markets lender said its pretax profit for the first six months was US$2.41bn, up from US$2.35bn, and beating the average analyst forecast of US$2.23bn. A 3% rise in revenues to US$7.83bn offset a 2% rise in operating expenses to US$5.3bn. The results were more impressive on an underlying basis as pre-tax profit came in at US$2.61bn, an increase of 13% on a constant currency basis, and revenues rose 4% to US$7.7bn.