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| Goldman Sachs sees bumper profit | Goldman Sachs sees bumper profit |
| (32 minutes later) | |
| US bank Goldman Sachs has unveiled a profit of $2.72bn (£1.6bn) after a major dividend payment for the April to June period - beating forecasts. | |
| It comes after the bank startled Wall Street by reporting it made $1.8bn in the first three months of the year, despite the financial crisis. | |
| The firm made a net profit of $3.44bn but paid £771m in dividends to holders of preferential shares. | |
| It said it had would $6.65bn in pay and bonuses in the quarter. | |
| Analysts have predicted that the annual payout for its 28,000 staff would near £18bn. | |
| Share rises | |
| The firm has recently paid back $10bn in federal aid intended to help it steer through the global turmoil. | The firm has recently paid back $10bn in federal aid intended to help it steer through the global turmoil. |
| And it also took a one-off charge of £426m related to the repayment of its government loan under the Troubled Asset Relief Programme (Tarp). | |
| Six months ago, Goldman saw its first quarterly loss since going public in 1999, after being battered by the economic crisis. | Six months ago, Goldman saw its first quarterly loss since going public in 1999, after being battered by the economic crisis. |
| However it said its profit had been buoyed by strength in its trading and underwriting businesses. | |
| Its share price, while still well off its highs, has gained about 75% in 2009. |