(Reuters) – Macquarie saw half-year profit below estimates on Friday as its wealth management division struggles with sluggish deal activity and a lack of asset realization.
The Australian financial conglomerate’s profit for the six months ended September 30 was A$1.61 billion ($1.06 billion), according to Visible Alpha, missing the consensus estimate of A$1.73 billion.
Last year, the company posted a profit of A$1.42 billion.
Macquarie has announced an interim dividend of A$2.60 per unit.
It also approved the extension of the ongoing A$2 billion share buyback for another 12-month period.
($1 = 1.5198 Australian dollars)
