Macquarie Group Ltd (ASX:MQG) has reported a 9 per cent fall in its net profit for the year ended on 31 March 2011, but has flagged an improved result in the following year.
Australia's biggest investment bank’s full year net profit of $956 million came largely in line with market expectations, and slightly above the company’s implied earnings guidance of around $945 million.
Macquarie delivered a second half profit of $553 million, growing 37 per cent from the first half and again slightly surpassing the company’s guidance.
While no specific guidance has been given for fiscal 2012 the bank advises the result will be dependent upon market conditions, particularly for Macquarie Securities and Macquarie Capital, which are assuming better market conditions than fiscal 2011.
Macquarie Group has declared a final fully franked dividend of $1.00 per share.
In the six months to 30 September 2010, Macquarie Group posted a net profit of $411 million
