Barclays 2006 Annual Report Download - page 54

Financial review
Results by nature of income and expense
Barclays PLC
Annual Report 2006
50
Staff numbers (continued)
Barclays Wealth staff numbers rose 600 to 7,800 (31st December 2005:
7,200) to support the continued expansion of the business, including
increased hiring of client-facing staff.
Head office functions and other operations staff numbers grew 300 to
1,200 (31st December 2005: 900) primarily reflecting the centralisation
of functional activity and the increased regulatory environment and
audit demands as a result of the expansion of business areas.
Agency staff numbers rose 2,100 to 9,100 (31st December 2005:
7,000), largely due to an increase in temporary staff at Absa.
2005/04
In 2005, total Group permanent and contract staff comprised 59,100
(31st December 2004: 60,000) in the UK and 54,200 (31st December
2004: 18,400) internationally.
Since 2004 permanent and contract staff numbers increased 34,900,
primarily as a result of the acquisition of Absa Group Limited, offset in
part by the implementation of restructuring programmes resulting in
a decrease of 2,400 staff.
UK Banking staff numbers fell 1,900 to 39,800 (31st December 2004:
41,700), reflecting the cost management programme in UK Retail
Banking partially offset by an increase in UK Business Banking frontline
staff and the inclusion of 200 Iveco Finance staff.
Barclaycard staff numbers rose 1,100 to 7,800 (31st December 2004:
6,700), reflecting growth of 300 in Barclaycard US, an increase of 200 in
other international operations and growth in customer-facing staff in
the UK.
International Retail and Commercial Banking increased staff numbers
33,300, primarily due to the inclusion of 32,700 Absa staff. International
Retail and Commercial Banking – excluding Absa increased staff
numbers by 600 to 12,700 (31st December 2004: 12,100), mainly due
to growth in continental Europe, including over 100 from the acquisition
of the ING Ferri business in France.
Barclays Capital staff numbers rose 2,000 to 9,900 (31st December
2004: 7,900), reflecting the continued expansion of the business.
Barclays Global Investors increased staff numbers 400 to 2,300 to
support strategic initiatives (31st December 2004: 1,900).
Head office functions and other operations staff numbers remained
stable at 900 (31st December 2004: 900).
The increase in agency staff worldwide largely reflected the inclusion
of 3,300 temporary staff at Absa.
Share of post-tax results of associates and joint ventures
2006 2005 2004
£m £m £m
Profit from associates 53 53 56
Loss from joint ventures (7) (8) –
Share of post-tax results of
associates and joint ventures 46 45 56
2006/05
The share of post-tax results of associates and joint ventures increased
2% (£1m) to £46m (2005: £45m).
Of the £46m share of post-tax results of associates and joint ventures,
FirstCaribbean International Bank contributed £41m (2005: £37m).
2005/04
In 2005, the share of post-tax results of associates and joint ventures
fell 20% (£11m) to £45m (2004: £56m). A stronger underlying
performance by FirstCaribbean in 2005 was more than offset by the
impact of a gain in 2004 relating to the sale of shares held in Republic
Bank Ltd (Barclays share £28m). Losses from joint ventures primarily
related to Intelligent Processing Systems Limited, a cheque processing
joint venture in the UK.
Profit on disposal of subsidiaries, associates and joint ventures
2006 2005 2004
£m £m £m
Profit on disposal of subsidiaries,
associates and joint ventures 323 –45
2006/05
The profit on disposal of subsidiaries, associates and joint ventures
includes £247m profit on disposal of FirstCaribbean International Bank
and £76m from the sale of interests in vehicle leasing and vendor
finance businesses.
2005/04
The profit on disposal in 2004 relates mainly to the disposal of the
Group’s shareholding in Edotech, an investment in a management
buy-out of the former Barclays in-house statement printing operation.