Challenger firms on 10% NPAT growth | Australian Markets
Challenger Limited has strengthened its expectation of 10% growth in web revenue after tax for the 2025 financial yr in a third quarter replace which revealed a 5% decline in funds below management however a strong carry in annuity gross sales.
The replace, launched to the Australian Securities Exchange (ASX) stated the company had tightened its FY25 normalised web revenue after tax steerage to a vary of between $450 million and $465 million, with the mid-point of the vary representing 10% growth on FY24.
Commenting on the replace, Challenger managing director and chief govt, Nick Hamilton stated the business had maintained momentum via the third quarter.
He stated Challenger noticed continued gross sales growth throughout home lifetime annuities and Japanese annuities, “supporting our focus on longer tenor and more valuable sales”.
Hamilton additionally welcomed TAL Dai-ichi Life as a materials shareholder in Challenger which he stated recognised the energy of Challenger’s strategic place, distinctive capabilities and the long-term tailwinds within the Australian retirement market.
The company’s abstract of the quarter pointed to:
- Total Life gross sales of $1.4 billion supported by longer tenor annuity gross sales
- Retail lifetime annuity gross sales up 22% to $246 million.
- Japanese gross sales up 33% to $240 million
- Fixed time period annuity gross sales up 15% to $505 million
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