Macquarie posts lower nine-month profit

Macquarie said full-year commodities and global markets income was likely to be broadly in line with FY22 levels of A$3.9bil. — Reuters

SYDNEY: Australian financial conglomerate Macquarie Group says its nine-month profit fell “substantially” due to weakness in its commodities and global markets business, adding the high-profile head of the division would exit the company.

It also issued a softer-than-expected outlook for the remainder of the financial year ending March 31, sending shares down 4.3% in early trading.