Macquarie Group Full-Year Profit Surges 29%
- Sees lower performance fees, some units face subdued markets
- Firm may report fiscal 2017 profit of A$2.05 billion: survey
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Macquarie Group Ltd.’s reported a record full-year profit and signaled that a four-year streak of boosting earnings may be drawing to an end.
Net income surged 29 percent to A$2.06 billion ($1.54 billion) for the year ended March 31 from A$1.6 billion a year earlier, boosted by contributions from its funds management, lending and equity-trading units, the Sydney-based firm said in a regulatory filing Friday. Macquarie said earnings in the current year will be “broadly in line” with the previous year. Net income for the year ending March 2017 is expected to be A$2.05 billion, according to the mean estimate of nine analysts surveyed by Bloomberg.