Macquarie Group says contribution from its group businesses is slightly lower in the June quarter compared to last year due to the impact of coronavirus but did not specify by the extent of the impact.

Managing Director Shemara Wikramanayake will tell shareholders at the company’s annual general meeting that Macquarie is unable to provide meaningful earnings guidance for the year ahead, given that market conditions will continue to remain challenging.

Macquarie halved its dividend in May after net profit for the full year ended March 31 dropped eight per cent due to higher credit impairment.