0008 GMT - Citi takes heart from funds manager Challenger's 3Q update, which included a tightening of guidance for its annual earnings. Challenger now expects a normalized net profit of A$450 million-A$465 million in FY 2025, a narrow band than the A$440 million-A$480 million projected before. Analyst Nigel Pittaway says that's a sign of Challenger's confidence in its delivery, with two and a half months of the fiscal year still to go. "This suggests resilience in the light of current market conditions and implies achievement of its return on equity target which we have always thought was likely but may have been the subject of some doubt," Citi says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 21, 2025 20:08 ET (00:08 GMT)
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