The Ferret has some comments on this this morning.
Apparently means 40% up on previous years results before exceptional items-I wouldn't call that very substantially higher. Maybe subtantially higher.
MBL might fall back a bit today on this clarification.
From the Ferret "Last night the billionaires factory revealed that when it said it expected a very substantial increase in its second-half profit, "this increase is currently expected to lead to the bank's net profit after tax attributable to ordinary equity holders for the year to 31 March 2005 being up at least 40 per cent on the previous year, excluding the effects of the gain which has been brought to account as a result of the formation of the Macquarie Goodman Group".
MBL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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