Challenger Investor day, net profit guidance rises 8-12%

Company News

by Anna Napoli

Challenger (ASX:CGF) has kicked off its annual Investor Day announcing a 2018 net profit (NPBT) guidance $545 to $565m, a rise of 8 to 12 per cent

The company says industry change is providing both challenges and opportunities with the company continuing to diversify its product range and customer base.

The investment management firm which manages $79 billion in assets is focused on providing customers with financial security for retirement

In its Life product sector the company has had year to date book growth of 13 per cent.

Meantime, it's pursuing Building Funds Management growth options both domestically and offshore.

Shares in Challenger (ASX:CGF) are trading  2.33 per cent lower at $12.56.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.