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Texas Conditions Boost Macquarie's Financial Results, Revises Outlook
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Macquarie Group Limited updated its
short-term outlook that was recently provided to the market at the Group’s Operational Briefing on 9 February 2021.
"Macquarie now expects the Group’s result for the year ended 31 March 2021 (FY21) to be up
approximately 5% to 10% on FY20," Macquarie said, citing recent conditions in Texas for the improvement
"Extreme winter weather conditions in North America have significantly increased short-term client
demand for Macquarie’s capabilities in maintaining critical physical supply across the commodity
complex and particularly in relation to gas and power," Macquarie said
The short-term outlook is subject to a range of uncertainties including:
• The duration and severity of the COVID-19 pandemic
• The uncertain speed of the global economic recovery
• Global levels of government support for economies
• Completion of period-end reviews including asset impairment and expected credit loss
allowances
• The completion rate of transactions
• Geographic composition of income
• The impact of foreign exchange
• Potential tax or regulatory changes and tax uncertainties
• Market conditions including significant volatility events and the impact of geopolitical events
"We continue to maintain a cautious stance, with a conservative approach to capital, funding and
liquidity that positions us well to respond to the current environment," Macquarie said
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February 22, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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