October 31, 2019 / 9:34 PM / 14 days ago

Australia's Macquarie Group posts 11.2% rise in interim profit

Nov 1 (Reuters) - Investment bank Macquarie Group Ltd on Friday posted a better-than-forecast 11.2% rise in its first-half net profit, but reiterated a weak outlook for fiscal 2020 citing unfavorable market conditions and regulatory uncertainty.

Profit for the six months ending Sept. 30 rose to A$1.46 billion ($1.01 billion) from A$1.31 billion a year earlier. The bank had earlier this year forecast profit growth of 10% in the interim period.

The bank declared an interim dividend of A$2.50 a share, up from A$2.15 last year.

$1 = 1.4510 Australian dollars Reporting by Ambar Warrick in Bengaluru; Editing by Shailesh Kuber

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