J Macquarie's FY22 Profit May Be Another Record -- Market Talk
04 Apr 2022 12:56:22
0256 GMT - Macquarie's star performing unit, Commodities and Global Markets, could turn out a stronger 4Q FY 2022 contribution than consensus is expecting, says Citi. Due to this, the investment bank revises its FY 2022 profit estimate 6% higher to A$4.61 billion driven by what it calls a "surging" 4Q FY 2022 CGM contribution. "We are currently 5% ahead of consensus with further share price upside likely given recent weakness," says Citi. The investment bank adds that Macquarie this week closed its books on what is expected to be a record year of profitability driven by CGM, with FY 2022 upgrades dominated by European oil & gas volatility.([email protected])
(END) Dow Jones Newswires
April 03, 2022 22:56 ET (02:56 GMT)
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