Macquarie's FY profit surges

Dividend lower than expected despite surging profit, Moore notes improved global conditions.

Macquarie Group has lifted its full-year net profit by 49%, exceeding analyst expectations.

In the year to March 31, Macquarie delivered a net profit attributable to shareholders of $1.265 billion, a 49% increase on the $851 million recorded in the previous year.

Analysts had expected Macquarie's full-year profit to come in at $1.22bn.

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