Macquarie Group

Macquarie Group’s share price increased 4% following its interim result (it has a 31 March year end) despite a further fall in revenue. Operating income fell 5% to $3.1bn from a year earlier, but net profit increased 18% to $361m as staff cuts led to a 9% fall in operating expenses to $2.6bn. Earnings per share also increased 22% to $1.06 due to the fall in the number of shares on issue. The company is half way through a $500m share buyback and further shares have been repurchased to offset the issue of employee options. The interim dividend was...

Macquarie Group’s share price increased 4% following its interim result (it has a 31 March year end) despite a further fall in revenue. Operating income fell 5% to $3.1bn from a year earlier, but net profit increased 18% to $361m as staff cuts led to a 9% fall in operating expenses to $2.6bn. Earnings per share also increased 22% to $1.06 due to the fall in the number of shares on issue. The company is half way through a $500m share buyback and further shares have been repurchased to offset the issue of employee options. The interim dividend was increased from 65 to 75 cents (unfranked, ex date 2 Nov).

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