February 5, 2018 / 9:49 PM / 10 months ago

Australia’s Macquarie projects record annual profit

Feb 6 (Reuters) - Australia’s biggest investment bank, Macquarie Group Ltd, said on Tuesday it expects a record annual profit, adding that trading conditions across the group were “satisfactory” in the December quarter.

The bank said its nine-month earnings from annuity-style businesses were higher from the year-ago period, and that net profit for the year would be about 10 percent more than last year’s record profit of A$2.2 billion ($1.73 billion). ($1 = 1.2689 Australian dollars) (Reporting by Shashwat Pradhan in Bengaluru; Editing by Stephen Coates and Hugh Lawson)

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