Profits at Barclays’ investment bank slipped by nearly 30% in the first quarter of 2019, as activist investor Edward Bramson continued to push for a board seat and an overhaul of the division.

The UK bank posted group pre-tax profits of £1.5bn, compared with a £236m loss during the same period last year. When litigation costs from the first quarter of 2018 are stripped out, profits at the group are down by 10% year on year. Revenues of £5.25bn were slightly behind analyst expectations of £5.4bn.