Macquarie has pushed back near-term profit expectations, but the medium and longer-term story is intact.
The Macquarie Group profit bus is running a bit late – but don’t worry, it should still get to its destination.
The group says asset sales are running a bit slower than expected in MAM’s green energy investment portfolio, so investors may have to wait until the second half of the financial year to see the money flow. That means the six months starting October 1. Harvey’s presentation said those asset realisations were likely to come in the coming half, rather than the six months to September 30, which could impact first half-profit numbers. Macquarie’s shares were 1.5 per cent lower on Wednesday morning.A bankers are saying about the market for deals globally, and particularly in Europe. Asset sales are taking longer, financing markets are harder, and there’s still some gap between buyer and seller price expectations.
His pitch is pretty broad, explaining Macquarie, its record profit for the year to March 31, its five-year earnings per share track record and how it has evolved and grown in the past 15 years outside of Australia. It was very much an “introduction to Macquarie” type presentation.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taxpayers should back ventures in SE Asia: Former Macquarie CEOPolitical risk insurance and streamlined foreign investment approvals are among 75 recommendations to boost trade and investment with South-East Asia.
Read more »
Macquarie revises outlook as asset sales push out to second halfMacquarie Asset Management could pocket hefty returns from asset sales, but deals are taking longer to close.
Read more »
Fitness group steps in to save boy allegedly being drowned by fatherAn exercise group exercising on the foreshore in WA’s Pilbara has stepped in after a man allegedly tried to drown his young son on Monday morning.
Read more »
Fitness group steps in to save boy allegedly being drowned by fatherAn exercise group exercising on the foreshore in WA’s Pilbara has stepped in after a man allegedly tried to drown his young son on Monday morning.
Read more »
Fitness group steps in to save boy allegedly being drowned by fatherAn exercise group exercising on the foreshore in WA’s Pilbara has stepped in after a man allegedly tried to drown his young son on Monday morning.
Read more »
Business, unions, universities form YIMBY groupHousing Now! will push NSW to speed up approvals of new homes and support more apartment buildings near train stations.
Read more »