Oct
29
Macquarie Record Profit Bucks Global Trend on Funds, Currency
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The shares are on course for the highest close in eight years
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Banks forecasts higher annual profit than the previous year
Macquarie Group Ltd. posted a record half-yearly profit, driven by its fund management business and currency gains, as global investment banking competitors such as Goldman Sachs Group Inc. and Morgan Stanley were buffeted by a slump in trading income.
Net income for the six months ended Sept. 30 jumped 58 percent to A$1.07 billion ($758 million) from A$678 million a year earlier, the Sydney-based firm said in a regulatory filing Friday. That compares with a forecast of a 55 percent gain Macquarie made on Oct. 8…
Macquarie Record Profit Bucks Global Trend on Funds, Currency
