Macquarie H1 profit jumps

Financial services group confident of increased FY profit, increases H1 operating income, has $385bn assets under management.

Macquarie Group (MQG) expects to deliver an improved full-year result despite continued market volatility, after posting a strong lift in first-half net profit.

In the six month to September 30, Macquarie posted a net profit of $501 million, a 39 per cent increase on the $361 million recorded in the previous corresponding period.

In the same period operating income was $3.68 billion, a 20 per cent increase on the $3.05 billion in the previous corresponding period.

The group said it had $385 billion in assets under management at the end of September.

Macquarie will pay an interim dividend $1, of which 40 cents will be franked.

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