Macquarie Group posts $2.48B half-year profit

Macquarie Group (ASX:MQG) delivered a half-year net profit attributable to ordinary shareholders of $2.48 billion for the period ended Sept. 30, up 50% compared to $1.65 billion in the half-year ended Sept. 30.

The financial result represents a 22% decline compared to the $3.18 billion profit generated in the half-year ended March 31.

"The strength of the result reflects the diversity of our businesses, the depth of our expertise to navigate less certain market conditions and our teams' ability to identify opportunities and deliver for our clients," said Macquarie Group Managing Director and CEO Shemara Wikramanayake.

The group reported total net operating income of $9.57 billion for the six-month period, while operating expenses totalled $6.32 billion.

Looking ahead, the executive leadership team noted that business momentum is expected to continue under incoming CEO Greg Ward.

Following the announcement, the Macquarie Group share price was unchanged at $258.40.

The division results showed Macquarie Asset Management recorded a net profit contribution of $1.51 billion, up 28% from $1.18 billion in the prior corresponding period, primarily driven by gains from selling Macquarie AirFinance.

Banking and Financial Services delivered a net profit contribution of $841 million, reflecting a 6% increase from $793 million in the same period last year.