Challenger says its profit is likely to take a hit from lower interest rates and the disruption to the advice industry caused by the Hayne royal commission.

At investor day on Thursday, the listed annuities provider said it expected to achieve bottom end of its guidance in the 2019 financial year, with a normalised net profit before tax – which strips away investment experience and significant items – between $545 million and $565 million. Analysts had expected a normalised net profit before tax of $544 million.