Macquarie Group CGM Unit Unlikely to Outperform Again Next Y

Macquarie Group CGM Unit Unlikely to Outperform Again Next Year, CEO Says


Provided by
Dow Jones
By Alice Uribe
SYDNEY--Macquarie Group Ltd.'s commodities and global markets unit is unlikely to repeat the standout fiscal 2021 performance that helped drive record profits at the Australian financial services company, Chief Executive Shemara Wikramanayake says.
In an interview with Dow Jones Newswires on Friday, Ms. Wikramanayake said dislocation in markets has traditionally provided the unit, known as CGM, with opportunities, pointing to the oil price volatility seen between the first and the second halves as an example.
CGM's total profit contribution rose more than 50% to 267 billion Australian dollars (US$207.86 billion) in the 12 months through March, Macquarie said in its full-year results.

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