Challenger can prosper in world of low interest rates

Jonathan ShapiroSenior reporter

Aug 13, 2019 – 9.28am

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Key Points

Revenue ($m) 2,373 , up 8.3%
Pre-tax profit ($m) 548 , up 0.2%
Net profit ($m) 307.80 , down -4.6%
Final dividend (c) 18.00 , flat
Date dividend payable September 25

Challenger chief executive Richard Howes says the company can still prosper in an environment of ultra-low interest rates, new competition and a change in the wealth management landscape as its full year profit met previously lowered market expectations.

Investors initially cheered Challenger’s $548 million pre-tax full year profit, the flat dividend and the affirmation of its full year 2020 guidance.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.