Macquarie full year profit beats forecasts at 3.5 billion
Macquarie reported a 30 percent rise in net profit to 4.85 billion Australian dollars. Strong commodity trading amid market volatility drove the results.
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MACQUARIE GROUP LTD reported an A$4.85B ($3.50B) full-year net profit on Friday, beating consensus estimates of A$4.39B. The result rose 30% from A$3.72B the previous year and marks the second-largest profit in the bank's history. High energy market volatility driven by Middle East conflicts boosted activity in the bank's lucrative trading business.
