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Macquarie Group Ltd Comments On FY 2014 Profit Guidance-AAP

Wednesday, 24 Jul 2013 07:42pm EDT 

Australian Associated Press reported that Macquarie Group Ltd expects to lift profits for fiscal 2014 , thanks in part to the fall in the Australian dollar. The investment bank says a rise in base and improvement fees and the fall in the local currency should see its net profit increase in fiscal 2014. The Australian dollar has fallen from well above 100 US cents to a little above 90 US cents in the past four months. Macquarie Group recorded a 17 per cent increase in net profit to $851 million in fiscal 2013. According to I/B/E/S estimates, analysts were expecting the Company to report net profit of $1.075 billion for fiscal 2014. 

Company Quote

-0.66 -0.79%
3 Jul 2015