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Macquarie posts record annual profit, beats estimates
May 4, 2017 / 10:31 PM / 7 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)

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