Macquarie result remains on track
Macquarie Group’s annuity-style businesses and financial services have helped solidify the company’s expectations of an improved result in 2014.
In an operational briefing lodged on the Australian Securities Exchange (ASX) today, Macquarie chief executive Nicholas Moore said that market conditions were continuing to show signs of improvement, albeit that client activity remained subdued for some capital markets-facing businesses.
He said the company’s annuity-style businesses - Macquarie Funds, Banking and Financial Services and Corporate and Asset Finance - had continued to perform well, with the combined third quarter 2014 net profit contribution up on the prior corresponding and the September 2013 quarter.
The Macquarie Group analysis said that it expected an improved result for the 2014 financial year, provided market conditions for the remainder of the year were no worse than for 2013.
Recommended for you
In this episode of Relative Return, host Maja Garaca Djurdjevic is joined by shadow treasurer Angus Taylor to discuss the current state of the financial advice sector, the economy, the housing affordability crisis and more.
In this episode of Relative Return, host Laura Dew speaks with Andrew Mitchell, director and senior portfolio manager at Ophir Asset Management, about why he loves working in fund management and the lessons he’s learnt in a decade of running a firm.
In this episode of Relative Return, host Laura Dew speaks with Blackwattle Investment Partners managing director and chief investment officer, Michael Skinner, about setting up an asset manager and what he looks for in an investment team.
In this special episode of Relative Return, Momentum Media’s Phil Tarrant and Jordan Coleman discuss the publishing house’s expansion into greater coverage of the wealth management space.