Australia's Latitude Group forecasts lower profit for 2023

Latitude group

26/05/2023 01:04

May 26 (Reuters) - Australia's Latitude Group  LFS.AX 
said on Friday it expects to post a fall in fiscal 2023 earnings
due to higher credit losses and provisions for costs associated
with a recent cyber hack.
    The consumer finance firm expects cash net profit after tax
(NPAT) in the range of A$5 million ($3.39 million) to A$10
million for the half year ending June 30. It had reported a cash
NPAT of A$93 million a year earlier.
    For the full year, cash NPAT is likely to be in the range of
A$15 million to A$25 million.
    
($1 = 1.4743 Australian dollars)

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