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Australia s Woolworths warns of slowing sales growth after first-half profit surge
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Australia s Macquarie reaps windfall profits from U S winter freeze
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Publishing date: Feb 21, 2021 • February 21, 2021 • 2 minute read •
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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.”
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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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