Macquarie Upgrades FY21 Outlook

Macquarie Group Limited (MQG.AX,MQBKY.PK) said it now anticipates fiscal year 2021 results to be slightly down on fiscal year 2020, compared to the prior estimation of significantly decline.

Looking ahead, the company said market conditions are likely to remain challenging, especially given the significant and unprecedented uncertainty caused by the worldwide impact of COVID-19 and the uncertain speed of the global economic recovery, making short-term forecasting extremely difficult.

The company noted that it remains well-positioned to deliver superior performance in the medium term Deep expertise in major markets.

The company noted that its annuity-style businesses' combined third-quarter net profit contribution up on the prior corresponding period.

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