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.