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Additional Information

Market:	ASX
Sector:	Banks
EPIC:	MQG
Latest Price:	26.71 (3.13% )
52-week High:	39.91
52-week Low:	20.03
Market Cap:	9,302.69M

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Macquarie Group

Macquarie Group provides specialist investment advisory and financial services in select markets around the world.

Macquarie Group profit falls 52%

Friday, May 01, 2009

Macquarie Group Ltd (ASX:MQG) has posted a fall in after-tax profit to $871 million, down from $1.8 million, and the first fall in net profit since the last recession 17 years ago.

The result was slightly below the market's expectation of around $880 million and previous guidance of $900 million.

Macquarie is "said to be aiming to issue 40 million new shares to investors at around $30 a share, a 10% discount to its closing price of $33.48 last night when the stock was placed in a trading halt".

Chief Executive Nicholas Moore said that, despite the world markets showing signs of easing, it was still too early to call a recovery.

“The markets are still challenging, we are still not at normal levels,” Mr Moore said.

“We are making a call that there is a fundamental shift in sentiment. Things have improved and the pipelines are looking better across the business,” he said.

“We have experienced over 18 months very volatile markets and we are not calling the end to that volatility.”

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