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BRIEF-Challenger Sees 2019 Normalised Net Profit Before Tax Of Between $545 Mln & $565 Mln

Published 12/02/2019, 08:04 am
Updated 12/02/2019, 08:10 am
© Reuters.  BRIEF-Challenger Sees 2019 Normalised Net Profit Before Tax Of Between $545 Mln & $565 Mln
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Feb 12 (Reuters) - Challenger Ltd CGF.AX :

* FOR 2019, CO HAS REVISED ITS EXPECTED EARNINGS RANGE FROM 8% TO 12% GROWTH ON 2018

* FOR 2019, CO EXPECTS NORMALISED NET PROFIT BEFORE TAX OF BETWEEN $545 MILLION AND $565 MILLION

* THE NORMALISED PRE-TAX ROE IN 2019 IS NOT EXPECTED TO REACH THE 18% TARGET DUE TO LOWER EARNINGS IN 2019.

* FOR 2019, CHALLENGER EXPECTS TO ACHIEVE A FULLY FRANKED DIVIDEND PAYOUT RATIO OF 45% TO 50% OF NORMALISED PROFIT

* NORMALISED COST TO INCOME RATIO IS FORECAST TO REMAIN IN THE RANGE OF 30–34% OVER THE MEDIUM TERM

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