Macquarie Group has announced a net profit after tax of $1,248 million for the half-year ended 30 September 2017 (1H18) which was driven mostly by its global platform and the diversity of its business mix.
The result also represented a 19 per cent growth on the half-year ended 30 September 2016 (1H170 and a seven per cent increase on the half-year ended 31 March, 2017 (2H17).
The board determined a 1H18 interim ordinary dividend of $2.05 per share, up on the 1H17 interim ordinary dividend of $1.90 per share and down from the 2H17 final ordinary dividend of $2.80 per share.
Macquarie Group’s managing director and chief executive, Nicholas Moore, said: “The group remains well positioned, with a strong and diverse global platform and deep expertise across a range of products and asset classes”.
“During the half-year we continued to build on the strength of our Australian franchise, while international income accounted for 62 per cent of the group’s total income.”
Macquarie’s annuity-style businesses (Macquarie Asset Management (MAM), Corporate and Asset Finance (CAF) and Banking and Financial Services (BFS)), which represented around 80 per cent of the group’s 1H18 performance, generated a combined net profit contribution of $2,094 million, up 28 per cent on 1H17 and up 30 per cent on 2H17.
At the same time, Macquarie’s capital markets facing businesses (Commodities and Global Markets (CGM) and Macquarie Capital) delivered a combined net profit contribution of $568 million, down 18 per cent on 1H17 and down 25 per cent on 2H17.
Net operating income stood at $5,397 million in 1H18 and represented a three per cent increase on 1H17 and a five per cent growth on 2H17, while operating expenses were of $3,693 million and were down one per cent on 1H17 and up five per cent on 2H17.
