Mac Bank tips strong result
(6 February 2007 – Australia) Macquarie Bank said it expected its profit for the six months to 31 March 2007 to be up on the same period a year ago but slightly down on the last half of 2006.
Macquarie chief executive officer Allan Moss said all of the bank’s major operating groups were performing well, benefiting from good market conditions across most markets, especially equity markets, in Australia and internationally.
He said there was a good flow of transactions across all groups but said commodity prices and volatility had eased from a high point in 2006 and that the Australian property market remain mixed.
Moss said staff numbers at Macquarie had grown by 15 percent to around 9,400 over the past 12 months and that international staff had grown 28 percent to 3,200 over the same period.
Moss said a highlight of the December 2006 quarter was a 16 percent increase in assets under management to A$177 billion driven by a combination of specialist funds initiatives – notably the acquisition of Thames Water – and strong managed funds growth.
He said there was a good flow of transactions across all groups but said commodity prices and volatility had eased from a high point in 2006 and that the Australian property market remain mixed.
Moss said staff numbers at Macquarie had grown by 15 percent to around 9,400 over the past 12 months and that international staff had grown 28 percent to 3,200 over the same period.
Moss said a highlight of the December 2006 quarter was a 16 percent increase in assets under management to A$177 billion driven by a combination of specialist funds initiatives – notably the acquisition of Thames Water – and strong managed funds growth.
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