More details on Mac Bank’s big year
(23 February 2005 – Australia) Macquarie Bank has provided the market with more information on its fiscal 2005 net profit, saying it expects to better last year’s result by at least 40 percent.
This means the investment bank will post an annual profit in the vicinity of A$692 million compared with A$494 million in FY 2004.
The bank said the positive outlook reflected the significant number of transactions completed by the bank over the year and the generally buoyant trading conditions.
Several days earlier the bank said it expected a "very substantial increase" in its second half profit.
Macquarie’s more detailed follow up forecast indicates the bank will post a net profit of some A$408 million for the second half of the year, which ends on March 31, a 62 precent increase on last year’s figure of A$252 million.
The bank said the positive outlook reflected the significant number of transactions completed by the bank over the year and the generally buoyant trading conditions.
Several days earlier the bank said it expected a "very substantial increase" in its second half profit.
Macquarie’s more detailed follow up forecast indicates the bank will post a net profit of some A$408 million for the second half of the year, which ends on March 31, a 62 precent increase on last year’s figure of A$252 million.
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