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Australia s Macquarie reaps windfall profits from U S winter freeze

Australia s Macquarie reaps windfall profits from U S winter freeze
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

Australia s Macquarie expects 2021 profit to rise up to 10%

Australia s Macquarie raises guidance after U S winter freeze

Publishing date: Feb 21, 2021  •  February 21, 2021  •  2 minute read  •  Article content SYDNEY Macquarie Group lifted its profit guidance on Monday, sending shares to 12-month highs, as its large North American energy business profits from the winter storms sweeping across Texas and other states. Macquarie said it expects its fiscal 2021 profit to jump by as much as 10%, after warning just two weeks ago that earnings would be “slightly down.” We apologize, but this video has failed to load. Try refreshing your browser, or Australia s Macquarie raises guidance after U.S. winter freeze Back to video The energy business unit, designed to move large quantities of gas to meet unexpected demand, has single-handedly increased the overall profit forecast of the investment bank by about A$400 million, analysts said.

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