Macquarie Group Ltd, the largest investment bank in Australia, announced today that its profit grew by 21% for the fiscal 2009-10. Macquarie said that it had reported an excellent second half and its profit rose more than 100% in the second half. Despite the profitable fiscal, Macquarie said that it expects a challenging coming year ahead on continuing uncertainty in global markets.

Macquarie said that its net profit for the full year ended March of $A1.05 billion, increasing by 21% while it was reported of $A871 million in the previous fiscal. The full year profit came in line with the market expectations as the analysts were expecting a profit of $1.02 billion. Macquarie was also expecting a profit of $1 billion for the year.

The operating income was reported of $A6.6 billion for the full year, increasing by 20% comparing to previous corresponding period. For the full year, earnings per share was reported of $A3.20. At the end of the fiscal, Macquarie's assets under management were reported of $A326 billion.

Macquarie said the net profit was reported of $A571 million in the second half, increasing by 113% while in was reported of $A267 million in the same period last year.