Australia's Magellan Financial slumps to 7-month low on downbeat HY results

Magellan Financial

20/02/2025 24:39

** Shares of Magellan Financial Group  MFG.AX  fall 10.5% to
A$9.040
    ** Stock hits their lowest level since early July 2024
    ** The asset manager reports HY net profit after tax of A$94
million ($59.58 million), down 10% from last year
    ** Co also declares an interim dividend of 26.4 Australian
cents per share, compared with 29.4 cents last year
    ** MFG also announces Sophia Rahmani as the CEO and managing
director and Dean McGuire as CFO
    ** Stock has lost 18.8% YTD, including current session's
moves


    ($1 = 1.5778 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))