• Normalised net profit after tax up 12% to $225m
• Statutory net profit after tax up 28% to $72m
• Normalised earnings per share up 12% to 32.8 cents per share

Challenger Ltd, a leading provider of retirement income solutions in Australia, has reported its financial results for the first half of fiscal year 2025. The company's normalised net profit after tax increased by 12% to $225 million, while statutory net profit after tax rose by 28% to $72 million. Normalised earnings per share grew by 12% to 32.8 cents per share. The company's Life business, which focuses on the retirement phase of superannuation, saw normalised net profit after tax increase by 7% to $225 million, with normalised cash operating earnings up 7% to $386 million. Total Life sales were $4.6 billion, down 12% from the prior corresponding period, with annuity sales of $2.9 billion, down 13%. The company's Funds Management business reported a 37% increase in normalised net profit after tax to $27 million, with funds under management growing by 3% to $121 billion. Challenger continues to make progress in building new institutional partnerships with superannuation funds, as they focus on supporting their members' needs through more comprehensive retirement income solutions. The company has also been awarded Money Magazine's 'Longevity Cover Excellence Award' for 2024, further strengthening its position as the market leader in Australian retirement incomes.

Challenger expects its FY25 normalised net profit after tax to be in the range of $480 million to $500 million.

Challenger is well-positioned to benefit from the long-term growth in Australia's superannuation system and the increasing demand for retirement income products. The company's focus on building deeper relationships with superannuation funds and delivering innovative retirement income solutions is expected to drive continued growth in its Life and Funds Management businesses.