The BBC itself was headlining how well RBS had come back to profit in the 6 o’clock news tonight in the face of headlines like “Royal Bank of Scotland shares were down more than 10pc in late afternoon trading after the part-nationalised lender reported a £1bn loss and warned that it will be some time before the bank and the economy get back on track.”
If their news bulletins lie like this the BBC has no further useful role in our life.
The facts: - - - - -
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ROYAL BANK OF SCOTLAND GROUP PLC (THE): FUNDAMENTALS
Shares in issue (m)
56,365.73
Market Cap (m)
25,251.84
PE Ratio
-0.34
Operating Margin (%)
-40.30
Profit Margin (%)
-40.30
Turnover per Share
3.53
PEG Factor
-0.02
Div per Share (DPS)(p)
0.00
Div Yield (%)
0.00
Div Cover
-7.37
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You’ll notice that ALL the figures relating to profit have a MINUS sign before them!
Even the BBC’s guru Robert Peston seemed pleased but he doesn’t speak English very well so one can never be sure what he HAS said.
Now here are the actual figures cut and pasted from RBS report
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First half 2009 £m
Total income 21,841
Operating expenses (11,891)
Operating profit/(loss) before impairment losses 7,816
Impairment (8,060)
Operating loss before tax (244)
Loss attributable to ordinary shareholders (1,042)
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It’s quite clear there was a LOSS of £1 billion
Christina
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