Challenger Group (CGF) – A miss across the board
Stock
Challenger Group (CGF) $11.47 as at 14/08/2018Event
This morning Challenger reported their full year results and they were a miss versus market expectations for FY18 and their guidance was also light on relative to the market. The stock is trading down 7.87% at time of writing on the session and we now have the share price down ~20% from the early January highs. NPAT for FY18 came in at $406m versus the $423m expected by the market, which is a about a 4% miss on the profit line. The dividend was in line with expectations, however that’s of little comfort given the guidance was below expectations.
