Challenger surges
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.
AUTHOR
Mike Taylor
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