CGF 1.51% $3.91 challenger limited

News: Challenger H1 profit plunges 83%

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    Financial services company Challenger Limited (ASX:CGF) has attributed an 83 per cent plunge in first half net profit to global market volatility.



    The company posted an interim net profit of $20 million for the six months to December 31, 2011 down from almost $118 million the year before.



    Despite the drop, newly-appointed CEO and Managing Director Brian Benari says it has been an excellent year with record annuity sales hitting $1.27 billion.



    Challenger will pay an unfranked dividend of 7.5 cents.

 
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