Macquarie: Interim result 2014

Macquarie Group has posted an encouraging interim result, but merger and acquisition activity remains subdued. Operating income for the six months to 30 September (Macquarie has a March year end) increased 20% from a year earlier to $3.7bn, with operating expenses increasing 13% to $2.9bn. Net profit increased 39% to $501m, but was up just 2% on the previous six months. Earnings per share increased 42% to $1.50 and an interim dividend of $1.00 was declared (franked to 40%, estimated ex date 12 Nov), up from $0.75 unfranked. The annuity-style businesses (Macquarie Funds Group, Corporate and Asset Finance and...

Macquarie Group has posted an encouraging interim result, but merger and acquisition activity remains subdued. Operating income for the six months to 30 September (Macquarie has a March year end) increased 20% from a year earlier to $3.7bn, with operating expenses increasing 13% to $2.9bn. Net profit increased 39% to $501m, but was up just 2% on the previous six months. Earnings per share increased 42% to $1.50 and an interim dividend of $1.00 was declared (franked to 40%, estimated ex date 12 Nov), up from $0.75 unfranked.

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