Financial services company Challenger Limited
(ASX:CGF) has attributed an 83 per cent plunge in first half net profit to global market volatility.
The company posted an interim net profit of $20 million for the six months to December 31, 2011 down from almost $118 million the year before.
Despite the drop, newly-appointed CEO and Managing Director Brian Benari says it has been an excellent year with record annuity sales hitting $1.27 billion.
Challenger will pay an unfranked dividend of 7.5 cents.
