Macquarie CEO Aims for Growth After Challenging Year
Macquarie's latest results fell short of expectations, leading to a drop in share price amid write-downs of offshore wind assets and weaker earnings in the commodities division.
Financial Performance Highlights
- Interim profits missed market forecasts by approximately 12%.
- Higher performance fees from asset management partly offset losses.
- Commodities earnings weakened, contributing to the overall decline.
- Offshore wind assets were significantly written down.
CEO Shemara Wikramanayake’s Strategic Focus
"We will prioritise organic growth and deepen our investments in private markets," said Macquarie chief executive Shemara Wikramanayake.
She aims to navigate through a difficult year and reassure investors concerned about the company's future earnings potential.
Investor Outlook
Despite current challenges, Macquarie plans to strengthen its position by emphasizing sustainable growth and expanding in private market sectors.
Additional Information
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Summary: Macquarie’s CEO pledges to focus on organic growth and private market investments to overcome a difficult fiscal year marked by weaker earnings and asset write-downs.