Investment Bank Macquarie Group
(ASX:MQG) says it expects improved operating results for the year in all of the company’s businesses.
Chairman David Clarke and CEO Nicholas Moore told shareholders in the bank’s 2010 shareholder review that while market conditions continue to improve, continuing uncertainty makes forecasting difficult.
Subject to the continuation of increasing economic activity across all major markets, the pair say Macquarie expects continued growth in revenue and earnings across most businesses over time and continued growth in its businesses driven by further expansion of the company’s strong client franchise.
The two say that Macquarie’s income statement for the year to March 31, 2011 is likely to be characterized by fewer one-off items as seen in the second half of this year.
For its fiscal 2010 year, Macquarie booked a profit of over $1 billion.
