May 2, 2019 / 10:40 PM / 5 months ago

Australia's Macquarie Group books record annual profit, flags slightly weaker FY20

May 3 (Reuters) - Investment bank Macquarie Group Ltd reported a 16.6 percent rise in full-year profit to a record high on Friday, but warned that it expected fiscal 2020 results to be slightly lower than the current year.

The company’s net profit rose to A$2.98 billion ($2.09 billion) in the 12 months ended March 31, from A$2.56 billion a year earlier, and slightly higher than its own projection.

Analysts on average had estimated a profit of A$2.95 billion, Refinitiv data shows.

Macquarie set a final dividend of A$3.60 per share, up from A$3.20 last year.

$1 = 1.4288 Australian dollars Reporting by Rushil Dutta and Niyati Shetty in Bengaluru; Editing by Himani Sarkar, Bernard Orr

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