American investment bank Jefferies Group reported preliminary net profit of US$82 million for the fiscal third quarter ended 31 August, up from US$12 million a year ago.
Total net revenue was US$835 million, largely helped by investment banking revenue of US$461 million, Jefferies said.
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Fixed-income revenue climbed to US$207 million from US$33 million a year earlier and equities revenue increased 7.9% to US$163 million.
Richard Handler, chairman and CEO, and Brian Friedman, chairman of the executive committee, commented: "These preliminary results represent the best third quarter and the best first nine-months Jefferies has achieved in our 50-year history. Our third quarter performance was driven by an estimated $461 million in investment banking net revenues.
"These record preliminary investment banking results reflect solid contributions from equity and debt capital markets, strong performance in our merger and acquisition advisory business, and solid participation across our industry groups and geographies.
"The overall environment is reasonable, and our competitive position has never been stronger."
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By GlobalDataThe preliminary results were being released in light of the Leucadia’s investor meeting on 13 September and final results are expected on 16 September, Jefferies said.
