Macquarie Group remains on track for a record full year profit of more than $2 billion, though it says volatile market conditions make forecasting difficult.
The investment group says it still expects its second half net profit to beat the $926 million earned in the same period a year ago, despite a mixed performance among its businesses.
"Trading conditions across the group were satisfactory in the December 2015 quarter," chief executive Nicholas Moore said.
Macquarie made a profit of $1.07 billion in the first half of its fiscal year, which ends on March 31, meaning it is well placed to exceed its 2008 record profit of $1.8 billion.
The group's capital markets facing businesses achieved profit growth in the December quarter, but Mr Moore noted that recent trading conditions reflect current market uncertainty.
World financial markets have had a volatile few months, with strong gains in late December before heavy falls to start the new year.
"While the impact of future market conditions makes forecasting difficult, Macquarie currently expects the FY16 combined net profit contribution from operating groups to be up on FY15," Macquarie said in a trading update.
Macquarie shares fell heavily despite the company's unchanged financial forecasts, dropping $3.40, or 4.98 per cent, to $64.86.
The shares have dropped almost 22 per cent since late December.
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