Australian Finance Group rises on upbeat profit guidance

Australian Finance

17/08/2022 06:03

** Shares of Australian Finance Group Ltd  AFG.AX  rise as
much as 7.4% to A$1.960, their highest since June 6
    ** Co expects "to remain within earnings consensus", with
normalised underlying NPATA of A$55.8 mln ($39.11 mln) for FY
 urn:newsml:reuters.com:*:nASX37tsM7
    ** Co, engaged in mortgage origination and lending business,
posted underlying NPAT of A$49.6 mln in FY21  urn:newsml:reuters.com:*:nASX898whb
    ** Co confirms that its dividend policy of paying 70% to 80%
of normalised underlying NPATA will remain unchanged
    ** Shares mark their biggest intraday pct gain since July 6
    ** As of last close, stock down 32.4% this year

($1 = 1.4267 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))