(Reuters) – Macquarie on Friday posted half-year profit below estimates, as its wealth management arm faces sluggish deal activity and a lack of asset realisations.
The Australian financial conglomerate’s profit attributable for the six months ended Sept. 30 came in at A$1.61 billion ($1.06 billion), missing a consensus estimate of A$1.73 billion, according to Visible Alpha.
The firm had recorded a profit attributable of A$1.42 billion last year.
Macquarie declared an interim dividend of A$2.60 apiece.
It also approved extending its ongoing A$2 billion buyback for a further period of 12 months.
($1 = 1.5198 Australian dollars)