September 10, 2017 / 11:29 PM / 10 months ago

Macquarie expects stronger first-half 2018 results on higher performance fees

Sept 11 (Reuters) - Top Australian investment bank Macquarie Group said on Monday it expects first-half net profit to be higher than the same period last year as it recognises improved performance fees in the six-month period.

The Sydney-listed bank repeated an earlier forecast of matching the previous year’s record net profit in the year to end-March 2018, but said profit contributions from its operating groups would be up in the first half.

Macquarie gave the update in presentation notes for an investor conference, which the Australian Securities Exchange published on Monday.

Reporting by Hanna Paul in Bengaluru; Editing by Byron Kaye and Stephen Coates

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