Challenger report statutory NPAT down $15 million

Company News

by Rachael Jones

Challenger (ASX:CGF) released their financial results for 2019 showing statutory net profit after tax was down $15 million on the prior corresponding period to $308 million.

The company was impacted by the disruption in the financial advice industry, with key metrics below expectations set at the beginning of the financial year.

Normalised net profit before tax (NPBT) was up $1 million to $548 million.

This was in line with the revised guidance provided in January 2019.

Normalised net profit after tax (NPAT) was down $10 million to $396 million.

The final dividend of 18 cents per share will be paid on 25 September 2019.

Shares in Challenger (ASX:CGF) closed 1.07 per cent lower at $6.50 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.