May 2, 2018 / 10:12 PM / 20 days ago

National Australia Bank H1 profit slips 16 pct hurt by restructuring costs

May 3 (Reuters) - National Australia Bank on Thursday reported a 16 percent drop in half-year cash profit as it booked a restructuring-linked cost pertaining primarily to workforce reduction costs.

NAB posted cash earnings, that excludes one-offs and non-cash accounting items, of A$2.76 billion ($2.07 billion) for the six months ended March 31, compared with A$3.29 billion last year. That met a forecast of a 16 percent fall to A$2.76 billion, according to six analysts polled by Reuters.

NAB bank maintained its interim dividend at A$0.99 per share. ($1 = 1.3346 Australian dollars) (Reporting by Rushil Dutta in Bengaluru; editing by Stephen Coates and James Dalgleish)

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