MQG

Macquarie Group (MQG) announced a solid start for the current fiscal year; however, it cautioned that it would be difficult to repeat last year's performance owing to the ongoing credit crisis round the globe. The market gave a sigh of relief on firm's sound footings and the same reflected in its share prices as well.

Babcock & Brown Power (BBP) was the overall worst performing stock taking in a 41.58 percent decrease. It was a mixture of funds and asset management, financial services, property investment, power, and nickel sulphide production companies who were among the worst performing stocks for the week 21 of 2008 on the Australian sharemarket: Babcock & Brown (BNB), Macquarie Group (MQG), Valad Property (VPG), Babcock & Brown Power (BBP), Sally Malay (SMY). The worst performing stocks for the week 21 recorded losses above 10.95 percent by the end of the trading week.

The Macquarie Group posted their annual profit results today reflecting a 23 percent rise in their full year profit. It admitted in its statement that it would be difficult to match these records next year owing to the current economic conditions.
Macquarie Group recorded an annual profit of $8 billion for its financial year 2008 which was 23% up from previous year $1.46 billion. The full operating income reflected a 15 percent increase to $8.2 billion while Earning per share (EPS) increased 13 percent to $6.71.