Australia’s Macquarie posts 32% fall in full-year profit

(Reuters) – Australia’s Macquarie Group posted a 32% drop in its full-year profit on Friday due to weaker performance across its commodities, global markets and asset management businesses.

The financial conglomerate’s profit attributable for the year ended March 31 came in at A$3.52 billion ($2.31 billion), compared with A$5.18 billion a year ago. That was largely in line with a Visible Alpha consensus of A$3.51 billion, according to UBS.

($1 = 1.5228 Australian dollars)

(Reporting by Sameer Manekar and John Biju in Bengaluru; Editing by Pooja Desai)