Macquarie: Q3 Result 2014

Investors are waiting for the day that Macquarie Group’s profits get a huge boost from increased corporate and market activity, but the 4% fall in the company’s share price after announcing its third-quarter trading update shows it hasn’t come yet (Macquarie has a 31 March year end). Management merely reiterated its lacklustre full-year guidance of producing a higher profit than last year. It’s been a consistent theme for several years now. Profits from the more stable annuity-style divisions (Macquarie Funds Group, Corporate and Asset Finance and Banking and Financial Services) are increasing slowly but steadily, while as a group...

Investors are waiting for the day that Macquarie Group’s profits get a huge boost from increased corporate and market activity, but the 4% fall in the company’s share price after announcing its third-quarter trading update shows it hasn’t come yet (Macquarie has a 31 March year end). Management merely reiterated its lacklustre full-year guidance of producing a higher profit than last year.

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