$2.56 billion annual profit for Macquarie Group | Finance News Network

$2.56 billion annual profit for Macquarie Group

Company News

by Rachael Jones

Macquarie Group (ASX:MQG) has delivered a record $2.56 billion annual profit.

That’s attributable to ordinary equity holders.

The Sydney based investment bank reported a 15 per cent rise in net profit for the 12 months ending March 31, according to the ASX statement released today.

This is about 10 per cent higher than last year’s $2.2 billion.

Macquarie began as a subsidiary of London merchant bank Hill Samuel & Co. and opened its first office in Sydney in 1970. Its annuity-style operations now contribute the bulk of earnings.

Macquarie said it would pay a final dividend of $3.20 a share at the beginning of July this year.

Shares in Macquarie Group (ASX:MQG) closed up 0.73 per cent to $107.75 yesterday
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.