MELBOURNE, Australia--Macquarie Group Ltd. (MQG.AU), Australia's biggest investment bank, flagged a rise in profit for the first half of the fiscal year on the back of stronger performance fees. The bank reiterated its balance sheet was strong and conservative and it was seeing the ongoing benefits of continued cost cutting. In the year through March, Macquarie recorded a 7.5% rise in profit to 2.22 billion Australian dollars (US$1.79 billion). For the first half of that year, profit was down 2% on-year at A$1.05 billion. Write to Robb M. Stewart at robb.stewart@wsj.comContinue Reading Below ADVERTISEMENT(END) Dow Jones NewswiresSeptember 10, 2017 19:30 ET (23:30 GMT)

Source: Wall Street Journal September 10, 2017 23:26 UTC