Challenger lifts FY profit 9.6% to $327.7m

Shares in Challenger have risen nearly five per cent after the investment manager lifted annual profit 9.6 per cent to $327.7 million.

Shares in Challenger have risen nearly five per cent after the investment manager lifted annual profit 9.6 per cent on record annuity sales.

Annuity sales for the 12 months to June 30 rose 22 per cent to $3.4 billion, driving Challenger to a $327.7 million net profit.

At 1040 AEST, shares in Challenger, which increased its final dividend one cent to a fully franked 16.6 cents, were up 43.5 cents, or 4.71 per cent, to $9.665.