Macquarie Group expects to come close to repeating last year's record profit of $2.06 billion, despite a softer patch in some divisions during the last three months of 2016.
The investment banking group on Tuesday described trading conditions in the three months to December as "satisfactory", with an increase in the profit contribution from its funds management, banking and financial services, and corporate financing arms.
Performance was softer in what it calls its capital markets-facing businesses: its equity capital markets arm, its investment banking unit, and its commodities and financial markets trading division.
"Trading conditions across the group were satisfactory in the December quarter," managing director Nicholas Moore said in a statement before a market briefing later in the day.
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Macquarie reports its profits over the year to March 31, and it expects to deliver results "broadly in line" with last year.
More to come