(Reuters) – Australian financial conglomerate Macquarie Group reported weak performance for the nine-month period on lower profit contributions from its annuity and market-facing businesses.
The financial conglomerate, which does not disclose profit figures in quarterly updates, said lower asset realisations in green investments led to a fall in net profit for its asset management segment.
Fiscal 2024 year-to-date net profit contribution from commodities and global markets segment fell due to “exceptional” strength in commodities in the corresponding period, the company said.
Macquarie, however, said it remains well-positioned to deliver superior performance in medium-term.
(Reporting by Echha Jain in Bengaluru; Editing by Anil D’Silva)
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