Macquarie Group announced a net profit after tax attributable to ordinary shareholders of $A2,557 million for the full year ended 31 March 2018 (FY18), up 15 per cent on the full year ended 31 March 2017 (FY17). Profit for the half-year ended 31 March 2018 (2H18) was $A1,309 million, up five per cent on the half-year ended 30 September 2017 (1H18) and up 12 per cent on the half-year ended 31 March 2017 (2H17).
Macquarie Group Managing Director and Chief Executive Officer (CEO) Nicholas Moore said: “FY18 highlighted the strength of Macquarie’s global platform, the diversity of its business mix and ongoing ability to adapt to changing market conditions and client needs.
Macquarie’s annuity-style businesses (Macquarie Asset Management (MAM), Corporate and Asset Finance (CAF) and Banking and Financial Services (BFS)), which represented approximately 70 per cent of the Group’s FY18 performance4 , continued to perform well, with combined net profit contribution of $A3,451 million, up six per cent on FY17.
“Macquarie’s capital markets facing businesses (Commodities and Global Markets (CGM) and Macquarie Capital) also performed well with a combined net profit contribution of $A1,610 million, up 11 per cent on FY17.”
Net operating income of $A10,920 million in FY18 was up five per cent on FY17, offset by operating expenses of $A7,456 million, which were up three per cent on FY17.
International income accounted for 67 per cent of the Group’s total income for FY18. Total international income was $A7,127 million in FY18, an increase of eight per cent on FY17.
Macquarie’s global assets under management (AUM) at 31 March 2018 were $A496.7 billion, up three per cent from $A481.7 billion at 31 March 2017, largely due to positive market movements and favourable currency movements, partially offset by net asset realisations in Macquarie Infrastructure and Real Assets (MIRA).
Macquarie continued to build its Australian franchise during FY18 across the operating groups. BFS has a small but growing market share and saw a 14 per cent rise in both its Australian mortgage portfolio and in funds on platform and a 3 per cent increase in BFS deposits during FY18. CAF finances vehicles, smartphones and energy and mining equipment. Macquarie’s non-banking activities in Australia are also seeing strong growth, with Australian AUM up 16 per cent during FY18 to $A97.9 billion at 31 March 2018. Macquarie maintained its leading market position in Australia in M&A and ECM6 , Australian equities research and brokerage
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