Australian fund manager Challenger downgrades outlook

Challenger Ltd on Thursday said it expected to record annual profit before tax towards the lower end of its guidance range, in line with market expectations of A$544 million ($376.9 million).

June 13 (Reuters) - Challenger Ltd CGF.AX on Thursday said it expected to record annual profit before tax towards the lower end of its guidance range, in line with market expectations of A$544 million ($376.9 million).

The Australian fund manager said it now expected to achieve the bottom end of the full-year 2019 normalised net profit before tax guidance range of A$545 million to A$565 million, and warned of hardly any growth in 2020 as well.

($1 = 1.4434 Australian dollars)

(Reporting by Shanima A in Bengaluru; Editing by Stephen Coates)

((shanima.a.thomsonreuters.com@reuters.net; +91 80 6749 3167; Reuters Messaging: (Reuters Messaging: shanima.a.thomsonreuters.com@reuters.net))

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