May 3, 2018 / 10:44 PM / a year ago

Australia's Macquarie Group posts record FY profit, beats forecast

May 4 (Reuters) - Macquarie Group on Friday reported record annual profit, surpassing expectations with help from its asset management and banking services arms.

Net profit jumped 15.3 percent to A$2.56 billion ($1.93 billion) for the year ended March 31, compared with A$2.22 billion a year ago. This was above an average forecast of A$2.48 billion from 13 analysts polled by Thomson Reuters I/B/E/S.

In February, Macquarie said it expected annual profit to rise 10 percent on higher contribution from its “annuity-style businesses” in the nine months to the end of December. ($1 = 1.3284 Australian dollars) (Reporting By Rushil Dutta in Bengaluru Editing by Himani Sarkar and Chris Reese)

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