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RBS posts record profits for Scottish company

Royal Bank of Scotland&#39s share price jumped 62p to 932p when it reported record profits for a Scottish company of just over £1bn.


Pre-tax profit rose 32 per cent to £1,001 from £760m in 1997.


Earnings per ordinary share also rose 32 per cent to 73.4p from 55.4p.


The bank says it lost £48m on new business with Tesco and Virgin One but profits at its Direct Line insurance arm increased to £64m.



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