By Alice Uribe


SYDNEY--Macquarie Group Ltd., Australia's biggest investment bank and asset manager, reported a 56% rise in annual profit, driven partly by a strong result in its markets-facing businesses that include Macquarie Capital.

Macquarie on Friday said its net profit totaled 4.71 billion Australian dollars (US$5.49 billion) in the 12 months through March. Consensus forecasts compiled by FactSet projected Macquarie's full-year net profit would be A$4.38 billion.

Annuity-style activities generated a combined net profit contribution A$4.13 billion, up 25% on year, while combined net profit from markets-facing business was A$5.33 billion, up 92% on year.

Directors of the company declared a final dividend of A$3.50 per share, compared to a final dividend of A$3.35 last year.

"While many of the regions and markets in which Macquarie operates saw heightened levels of volatility this year, our longstanding strategy to address key areas of unmet need in the community is unchanged," said Chief Executive Shemara Wikramanayake. "Over time, this has seen us build deep and differentiated franchises in each of our areas of activity, all of which delivered sound outcomes and strong performance in FY 2022."

Macquarie, which has a reputation among analysts for conservative forecasts, didn't provide guidance for the current fiscal year.


Write to Alice Uribe at alice.uribe@wsj.com


(END) Dow Jones Newswires

05-05-22 1851ET