Macquarie Impresses Again with a Strong FY17 Profit. FVE Increases 4% to AUD 93
Macquarie Group reported a higher-than-expected fiscal 2017 profit of AUD 2.2 billion, 3% above our forecast and 4% above consensus, primarily due to a lower tax rate. Nevertheless, the result was impressive building on the 29% growth in NPAT achieved in fiscal 2016. Despite the 7% increase in NPAT beating guidance of “broadly in line with FY16â€, the 18% increase in the total dividend to AUD 4.70 per share, 45% franked, surprised. The dividend was 9% higher than our forecast but the 72% payout r...Macquarie Group is non-operating holding company. Through its subsidiaries, Co. provides banking, financial, advisory, investment and funds management services. Co.'s principal activities include distribution and manufacture of funds management products; trading in fixed income, equities, currency, commodities and derivative products; corporate and structured finance, advisory, underwriting, facilitation, broking and real estate/ property development; and banking activities, mortgages and leasing. As of Mar 31 2016, Co. had total assets of A$196.76 billion and total deposits of A$52.25 billion.
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