Challenger surges

chief executive

27 August 2007
| By Mike Taylor |

Challenger Financial Group has announced a 90 per cent increase in net profit to $255 million for the year ended June 30, 2007.

The group said the result had been underpinned by strong top-line revenue growth up 27 per cent with all divisions contributing double digit growth in both revenue and earnings over the year.

It said that assets and loans under management, administration or advice broke through the $50 billion market, for the first time to close at $52.8 billion, up 27 per cent over the same period a year earlier.

Challenger chief executive Mike Tilley said it represented another record result for the company.

“The diversity of our revenue stream is improving each year, demonstrating the benefits of a business model that spans the breadth of financial services,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 days 18 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 week ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 6 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

5 days 23 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

5 days 2 hours ago