May 4, 2017 / 10:31 PM / 5 months ago

Macquarie posts record annual profit, beats estimates

May 5 (Reuters) - Macquarie Group posted a record annual net profit on Friday, up 7.46 percent, beating analyst estimates as its annuity-style businesses and commodity businesses strengthened.

Australia’s top investment bank reported net profit of A$2.22 billion ($1.64 billion) for the year ended March 31, up from A$2.06 billion a year earlier.

Analysts on average were expecting a net profit of A$2.06 billion for the year, a survey of 14 analysts by Thomson Reuters I/B/E/S revealed.

The bank announced a final dividend of $A2.80 per share 45 percent franked, up from A$2.40 per share a year ago. ($1 = 1.3499 Australian dollars) (Reporting by Aparajita Saxena and Hanna Paul in Bengaluru; Editing by Phil Berlowitz)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below