Business
Macquarie’s natural perils windfall – The Australian Financial Review
Climate driven spikes in revenue are likely to become more frequent at Macquarie Group as natural perils rise with global temperatures.
Macquarie said its 2021 profits for the period ending March 31 will be 5 to 10 per cent higher than 2020.
Jefferies analyst Brian Johnson says this is a repeat of the boost to Macquaries profits in 2014 when a polar vortex hit New York and led to a spike in electricity prices.
At that time the profit from Macquaries commodities and global markets division jumped from $393 million in the first half to $791 million in the second half.
Johnson believes this latest storm will boost Macquaries full year…
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