Macquarie’s American adventure continues
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Macquarie’s American adventure continues

Almost half of the Australian group’s record profit came from the Americas this year. Will Macquarie still call Australia home?

Chris Wright on Asia 1920px.jpg

Macquarie’s full-year results, announced today (May 6), brought yet another set of records: highest ever net profit, at A$4.7 billion ($3.3 billion), up 56% on financial 2021, which was itself a record; and 53 consecutive years of unbroken profitability since inception.

It is an outstanding group performance. But one of the more important numbers was that almost half – 48% – of net profit came from the Americas. All told, overseas income accounts for 75% of Macquarie’s total; Australia is now just a quarter.

Shemara Wikramanayake, Macquarie

All of these are records and it is easy to forget how recently the dynamic has shifted. It was only in the 2007 financial year that international income became the majority: until then the lion’s sharewas all Australia. And even then, Asia was the bulk of international earnings, not the Americas.

Today, though, so many of Macquarie’s engines are US-based that one begins to wonder about the group’s future.

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