Investment management firm, Challenger Ltd
(ASX:CGF) has reported its statutory net profit was $328 million in the 2016 financial year.
Challenger says its profit increased by 10%, compared to the same period last year.
The company says its profit was partly driven by “record annuity sales” which were up 22% over the previous year. Challenger says these “record sales” were boosted by superannuation industry moves to include Challenger annuities on investment and administration platforms.
The company has declared a final dividend of 16.5 cents per share. Its full year dividend is 32.5 cents, which is an 8% increase over the last year.