(Reuters) - Macquarie Group <MQG.AX>, Australia's biggest investment bank, said on Monday it expects first-half net profit to be higher than the same period last year due to better performance fees, sending its shares higher.
Releasing presentation notes for an investor conference, the Sydney-listed bank said the first-half results would be in line with the second half of the last financial year.
It did not change its outlook for the full year, saying that it expects net profit to match last year's record of A$2.22 billion.
Macquarie's shares rose as much as 3.6 percent by midsession, their biggest intraday percentage gain in four months, while the broader market <.AXJO> was up 0.5 percent.
Macquarie makes money from sources as varied as buying toll roads, M&A advisory services, leasing aircraft and selling mortgages. The A$29 billion company is nicknamed the "millionaires factory" because of its reputation for boosting profit in unpredictable market conditions.
The company's first-half result will compare with a net profit of A$1.05 billion in the first half of the last financial year and an average analyst forecast of A$1.09 billion from Thomson Reuters I/B/E/S.
The company reports first-half profit on Oct. 27.
(Reporting by Christina Martin and Hanna Paul in Bengaluru; Editing by Byron Kaye and Edwina Gibbs)
