Macquarie: Interim result 2016 and SPP

Not entirely unpredictably, Macquarie has beaten its thrice upgraded guidance for first-half net profit, with the asset management business in particular firing on all cylinders.

You might have thought that after upgrading their first-half profit guidance three times – most recently after the period end – Macquarie Group management could have got it right. A cynic would perhaps say they did, with first-half net profit coming in 2% ahead of the final upgrade – well, you wouldn’t want anyone to be disappointed, would you?

It’s hard to imagine anyone was, with the pre-tax profit rising 44% to $1.6bn thanks to a 24% rise in operating income, to $5.3bn, combined with only a 17% rise in expenses, to $3.7bn, and a healthy dose of operational leverage.


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles