No changes to Macquarie Group’s profit expectations
(4 February 2016 – Australia) Macquarie Group has today announced that conditions at the end of 2015 were "satisfactory", while repeating that its 2016 profit will build on the previous year.
In a statement provided to the Australian Securities Exchange, the Group’s Asset Management, Corporate and Asset Finance and Banking and Financial Services units combined December 2015 quarter net profit contribution had increased against the same period in 2014.
"While the impact of future market conditions makes forecasting difficult, Macquarie currently expects the FY16 combined net profit contribution from operating groups to be up on FY15," the statement said.
Macquarie Group’s Chief executive, Nicholas Moore said: "Trading conditions across the group were satisfactory in the December 2015 quarter.
"We've seen recent market uncertainty which we are seeing in the businesses," he added.
The financial services group’s previous guidance outlined that 2016 full-year profit would be up on last year's A$1.6 billion. Analysts predict record annual profit of approximately A$2.1 billion, considerably more than its 2008 record of A$1.8 billion.
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