Australia's Netwealth set for worst day since mid-July on profit consensus miss

Netwealth

16/08/2023 02:11

** Shares of Netwealth Group  NWL.AX  slip as much as 3.9%
to A$14.17, on track for their worst day since July 14, if
losses hold 
    ** The financial services co reports higher FY net profit
attributable of A$67.2 mln ($43.28 mln) vs A$55.6 mln reported
last year, but still misses Visible Alpha estimate of A$67.8 mln
 urn:newsml:reuters.com:*:nFWN39W1MU
    ** Co posts FY2023 revenue of A$207 mln, up from A$172.9 mln
a year ago; with a final dividend of 13 AU cents per share 
    ** Adds that it has entered FY24 with a strong pipeline and
high win rate for new business across all key segments
    ** Shares hit their lowest since Aug 4 
    ** Stock up 21.9% this year, as of last close

    ($1 = 1.5307 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))