Macquarie Group Limited (ASX:MQG) has posted a soft start to the new financial year but forecast an upbeat fiscal 2015.
Australia’s largest listed investment bank booked a drop in its operating group’s contribution to profit in the three months to the end of June.
CEO Nicholas Moore has blamed the first quarter performance on the timing of transactions and lower trading volumes.
However, Macquarie has maintained it expects its full year result to be broadly in line with last years.
The financial services group has also flagged the potential for a better result should market conditions improve.
Macquarie Group reported a net profit of $1.27 billion in the year to the end of March 2014.
