Macquarie Group (ASX:MQG) net profit up 11% compared to 1H19

Company News

by Katrina Bullock

Investment bank and financial services company, Macquarie Group (ASX:MQG) has released its interim financial report for the half year period ending 30 September 2019.

The company saw an 11 per cent increase in net profit compared to the first half of 2019 – with net profit of approximately $1,457 million. However, if you compare these figures to the second half of 2019, the company experience a 13 per cent decrease.

Macquarie’s assets under management were up 2 per cent from 31 March 2019 to $563.4 billion. The bank attributes this to foreign exchange impacts, investments made by funds managed by Macquarie Infrastructure and Real Assets and market movements.

It currently expects the 2020 financial year result to be slightly down on the 2019 financial year results.

Shares in Macquarie Group (ASX:MQG)are trading 1.22 per cent lower at $132.28.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.