Australia's Challenger posts flat annual profit, flags softer 2020 earnings

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Aug 13 (Reuters) - Australian fund manager Challenger Ltd on Tuesday posted a flat full-year profit and flagged softer earnings for fiscal 2020, citing challenging conditions for domestic sales.

Challenger said normalised net profit before tax for the year ended 30 June edged up to A$548 million ($370 million), compared with A$547 million a year ago.

The company said it is targeting a profit of between A$500 million and A$550 million next year.

($1 = 1.4813 Australian dollars)

This article appears in: World Markets , Stocks , Economy , 401k , Retirement , Earnings

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