Business Services Industry
MacBank result to miss funds' fees.
Australasian Business Intelligence, May, 2006
Byline: Roz Alderton
May 14, 2006 (The Age - ABIX via COMTEX) -- Macquarie Bank is on target for a record profit of $A900m in 2005-06. Australia's biggest investment bank will announce on 16 May 2006 that profits are up on the $A823m posted in 2004-05. However analysts question whether it can keep up its long run of successful deals. Macquarie Bank recently launched a $A6bn bid for Patrick Corporation that lasted only a few days, while a daring $A3.65m attempt at taking over the London Stock Exchange also failed. Two of its star funds, Macquarie Infrastructure Group and Macquarie Airports, have also underperformed recently. Macquarie Bank is seeking to spin off $A1.8bn in assets by September 2006.
Publication Date: 15 May 2006
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