Macquarie Delivers Another Stellar Performance in FY19, But Can it Last? FVE AUD 135 Unchanged
Narrow-moat Macquarie Group impressed with another stellar operating performance for fiscal 2019. The 17% increase in net profit to AUD 3.0 billion was in line with expectations and modestly above guidance “of up to 15%†increase. Highlights were many, particularly revenue up 17%, market-facing business profits up 76%, performance fees up 29% and equity under management increasing 36% and the impressive return on equity of 18%. The combined profit contribution (before corporate overheads) of the...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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