Sydney, 14 September 2020
As part of its regular investor communications program, Macquarie Group (ASX: MQG; ADR: MQBKY) will be presenting at the Jefferies Asia Forum, held virtually between 14 and 16 September 2020.
The presentation includes a 1H21 update to the short-term outlook statement Macquarie provided at the Group’s Annual General Meeting on 30 July 2020.
Macquarie states that market conditions are likely to remain challenging, especially given the significant and unprecedented uncertainty caused by the worldwide impact of COVID-19 and the uncertain speed of the global economic recovery.
The extent to which these conditions will adversely impact Macquarie’s overall FY21 profitability is uncertain, making short-term forecasting extremely difficult. Accordingly, Macquarie is currently unable to provide meaningful earnings guidance for FY21.
Macquarie currently anticipates the 1H21 result to be down approximately 35 per cent on 1H20 and down approximately 25 per cent on 2H20.
The range of factors that will influence our short-term outlook include:
We continue to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions us well to respond to the current environment.
Macquarie Group Investor Relations
+61 2 8232 9986
Macquarie Group Media Relations
+61 2 8232 6016