Barclays 2003 Annual Report Download - page 129
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1 Dealing profits
2003 2002 2001
£m £m £m
Rates related business 909 876 823
Credit related business 145 (43) 188
1,054 833 1,011
Dealing profits include the profits and losses arising both on the purchase and sale of trading instruments and from their revaluation to market value,
together with the interest income earned from these instruments and the related funding cost.
Of the total dealing profit, £498m was earned on securities (2002: £325m, 2001: £345m).
Rates related businesses include fixed income, foreign exchange, commodities, emerging markets, money markets trading and equity related
activities. Credit related businesses include trading relating to loans, corporate bonds, credit derivatives and structured capital markets.
2 Other operating income
2003 2002 2001
£m £m £m
Premium income on insurance underwriting 264 178 158
Profits on disposal of investment securities 73 58 37
(Loss)/income from the long-term assurance business (33) (51) 127
Property rentals 15 20 30
Dividend income from equity shares 678
Other income 165 152 68
490 364 428
3 Administrative expenses – staff costs
2003 2002 2001
£m £m £m
Salaries and accrued incentive payments 3,441 3,159 3,149
Social security costs 278 240 243
Pension costs 180 (27) (17)
Post-retirement health care 19 15 –
Other staff costs 377 368 339
4,295 3,755 3,714
The following amounts, relating to the administration staff (including temporary staff) whose remuneration is reflected in the valuation of the
long-term assurance fund, are not included in staff costs reported above:
2003 2002 2001
£m £m £m
Salaries and accrued incentive payments 512 47
Social security costs 115
Other staff costs ––18
613 70
Average number of employees
The average number of persons employed by the Group worldwide during the year, excluding agency staff, was 74,400 (2002: 77,200, 2001: 77,100).
The average number of administration staff whose remuneration is reflected in the valuation of the long-term assurance fund, was 208 (2002: 370,
2001: 1,600).
Notes to the Accounts
For the Year Ended 31st December 2003
Barclays PLC Annual Report 2003 127