2005 a bumper year for Macquarie
(17 May 2005 – Australia) Macquarie Bank has posted a massive net profit of A$823 million for the full year to March 31, 2005, a 67 percent increase on the previous year.
The bank’s second half result was up 78 percent on the corresponding period a year earlier.
Macquarie Bank chairman David Clarke said the year was characterised by substantial international growth.
"The continuation of business expansion and significant international achievements resulted in international income growth of 83 percent to A$1.3 billion," he said.
He said the bank also benefited from a 29 percent increase in employee numbers outside Australia to 1750, with total staff numbers increasing by 15 percent to 6560.
The result was boosted by the one off A$91 million from the formation of Macquarie Goodman Group (MGQ).
Macquarie Bank chief executive Allan Moss said the bank was aiming to repeat its result in the 2006 year, excluding the MGQ profit and the impact of the introduction of International Financial Reporting Standards.
However, he said the result would be subject to swing factors such as the quantum of performance fees on specialist funds, market conditions and asset realisations.
"We note that equity market conditions have recently softened and we may not achieve this outcome if this softening is sustained," Moss said.
Macquarie Bank chairman David Clarke said the year was characterised by substantial international growth.
"The continuation of business expansion and significant international achievements resulted in international income growth of 83 percent to A$1.3 billion," he said.
He said the bank also benefited from a 29 percent increase in employee numbers outside Australia to 1750, with total staff numbers increasing by 15 percent to 6560.
The result was boosted by the one off A$91 million from the formation of Macquarie Goodman Group (MGQ).
Macquarie Bank chief executive Allan Moss said the bank was aiming to repeat its result in the 2006 year, excluding the MGQ profit and the impact of the introduction of International Financial Reporting Standards.
However, he said the result would be subject to swing factors such as the quantum of performance fees on specialist funds, market conditions and asset realisations.
"We note that equity market conditions have recently softened and we may not achieve this outcome if this softening is sustained," Moss said.
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