CORRECTED-BUZZ-Australia's Challenger slips to 3-year low as HY results disappoint

Reuters
02-18
CORRECTED-BUZZ-Australia's Challenger slips to 3-year low as HY results disappoint

Corrects company ticker symbol in first bullet and header field

** Shares of investment management co Challenger CGF.AX drop as much as 8.8% to A$5.59, their lowest levels since January 28, 2022

** Co posts HY normalised NPAT of A$225 million ($142.94 million), lower than consensus estimate of A$229 million, according to Jefferies

** Total sales for co's core Life segment fall 12% in HY; Life normalised EBIT misses expectations

** Declares interim dividend of 14.5 Australian cents per share, higher than consensus estimates of 13.8 cents

** CGF stock is worst performer on ASX 200 benchmark index .AXJO

** Stock down 4.7% YTD, including day's moves

($1 = 1.5741 Australian dollars)

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))

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