Australian Finance Group falls on half-year profit slump

Australian Finance

29/02/2024 03:53

** Shares of Australian Finance Group  AFG.AX  fall as much
as 13.9% to A$1.430, set for worst day since March 23, 2020, if
losses hold
    ** The lender says its HY net profit after tax from cont ops
attributable fell 34% to A$14.5 mln ($9.45 mln)
    ** Co declared an interim dividend of 4 Australian cents per
share, compared with 6.6 Australian cents, a year ago
    ** Stock hits lowest level since Nov 14, 2023    
    ** About 14 mln shares change hands, compared with the
30-day average volume of 312,019     
    ** Stock set for worst week since December 2022, if trend
holds
    ** Stock among the top losers in the All Ordinaries
Sub-index  .AORD 
    ** AFG stock up 6.4% YTD, as of last close 
    
    ($1 = 1.5352 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))