Macquarie Group

Macquarie Group’s share price has increased 3% after announcing a 9% drop in operating income to $7.0bn for the year ending 31 March. It would have fallen 13% without the $295m special distribution received from Sydney Airport. Net profit fell 24% to $730m, earnings per share fell 26% to $2.10 and return on equity fell to a record low of 6.8%. That was despite profits increasing from $305m in the first half to $425m in the second half as markets shook off fears of a European banking collapse. An unfranked dividend of 75 cents was declared (ex date 7...

Macquarie Group’s share price has increased 3% after announcing a 9% drop in operating income to $7.0bn for the year ending 31 March. It would have fallen 13% without the $295m special distribution received from Sydney Airport.

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