Sydney, 24 March 2014
As part of its regular investor communications program, Macquarie Group (Macquarie) (ASX: MQG; ADR: MQBKY) will be presenting at the Credit Suisse Asian Investment Conference on 26 and 27 March 2014.
Contained within the presentation (see attached) is an update to the short term outlook statement that Macquarie provided at the Group’s Operational Briefing on 11 February 2014.
Notably, improved market conditions have continued for our FICC business. Consequently, we now expect FICC to be broadly in line with, or slightly up on, FY13.
Accordingly, we expect Macquarie’s result for FY14 to be up approximately 40-45% on FY13, subject to the completion rate of transactions and period end reviews.
Our short term outlook remains subject to a range of challenges including:
Over the medium term, Macquarie remains well positioned to deliver superior performance. The Group has deep expertise in major markets and we continue to build on our strength in diversity and adapt our portfolio mix to changing market conditions. We are seeing the ongoing benefits of continued cost initiatives, our balance sheet is strong and conservative, and we have a proven risk management framework and culture.