Challenger Limited (AU:CGF) has released an update.
Challenger Limited reported a robust financial year with a 17% increase in normalised net profit before tax at $608 million and a rise in assets under management by 21% to $127 billion, signifying strong growth in its retirement income products and funds management. Despite these gains, statutory net profit after tax saw a 24% decline due to reduced property valuations and adjustments in mortality rate assumptions. The company remains well-capitalized, with strategic partnerships and technological advances promising to sustain its growth trajectory into the 2025 financial year.
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