Macquarie flags 35 per cent pandemic hit to first-half earnings | ColinJKruger
Macquarie Group has told investors the turmoil unleashed by coronavirus will see its earnings for the current half dive by 35 per cent compared to the prior first half year and said it is unable to provide meaningful guidance for the year due to the pandemic-driven uncertainty.
Macquarie Group CEO Shemara Wikramanayake said the company is currently unable to provide meaningful earnings guidance for the year. In February, Macquarie reaffirmed guidance for its full-year profit to be "slightly" lower than last year's record earnings of almost $3 billion, but reported an 8 per cent slide in profit for the 2020 financial year to $2.7 billion in May and flagged an uncertain outlook.For the second half ending March 31, it reported a 13 per cent slide in net profit to $1.27 billion and the group said on Monday that earnings for the current half year will be 25 per cent below this figure.
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