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MACQUARIE GROUP REPORTS 52 PCT SLIDE IN ANNUAL NET PROFIT.(Financial report)
SYDNEY, May 1 Asia Pulse - Macquarie Group Ltd (ASX:MQG) has reported a 52 per cent fall in annual profit after Australia's biggest investment bank booked A$2.5 billion (US$1.81 billion) in writedowns on assets because of the global financial crisis.
Net profit for the 12 months to March 31 was A$871 million, compared with A$1.8 billion a year earlier, Sydney-based Macquarie said in a statement on Friday.
The result was in line with Macquarie's guidance for full year profit to halve to about A$900 million.
Macquarie shares are currently in a trading halt after the bank announced late on Thursday that it was contemplating a capital raising.
Macquarie declared a final dividend of 40 cents per share, down from A$2 in the same period in fiscal 2008, taking the total for the fiscal 2009 year to A$1.85.
"Macquarie has remained profitable despite a year of challenging global market conditions," chief executive Nicholas Moore said in a statement.
"The year's result was marked by a significant number of one-off items resulting from these market conditions."
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Source: HighBeam Research, MACQUARIE GROUP REPORTS 52 PCT SLIDE IN ANNUAL NET PROFIT.(Financial...