Macquarie maintains FY outlook

Investment bank expects FY 2014 result to be up on 2013, as already announced.

Investment bank Macquarie Group (MQG) has reiterated its full-year guidance, saying it expects its fiscal 2014 result to be an improvement on the prior year if market conditions are not worse than those in the past 12 months.

In a statement to the Australian Securities Exchange, the bank warned that market volatility makes forecasting difficult and the result is subject to challenges including possible regulatory changes, increased competition, the cost of funding and the cost of the group's conservative approach to funding and capital.

Macquarie said it expects its first-half 2014 result to be broadly in line with the second half of 2013, subject to the completion rate of transactions and the conduct of period end reviews.

It expects the second-half 2014 result to be stronger than first-half 2014, consistent with previous years.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles