Steadfast lifts guidance after ‘strong performance’
Steadfast has adjusted its full-year earnings guidance based on a strong trading performance for the period to the end of May and contributions from acquisitions.
The company now expects results for the year to June 30 will be either at the top end of its previous guidance range or slightly above the range announced in February with the first-half earnings.
Underlying earnings before interest, tax and amortisation are now expected to reach $525-$530 million, with the range narrowed from $520-$530 million previously.
Net profit after tax is forecast at $248-$253 million on an underlying basis compared with February guidance of $240-$250 million, while diluted earnings per share growth is forecast at 16%-17%, up from 11%-16%.
Underlying net profit after tax and amortisation is expected within a $298-$303 million range, up from $290-$300 million previously.
Steadfast will provide more information on its strategy and operating environment at investor day events in Sydney on Monday and Melbourne on Tuesday.
Members of the leadership team attending will include CEO Robert Kelly, CFO Stephen Humphrys, CEO international Samantha Hollmann and COO Nigel Fitzgerald.
They will be joined by EGM partners, broker services and agencies Nick Cook, GM operations, compliance and customer experience Helen Tebelopoulos, Sure Insurance MD Bradley Heath and IQumulate Premium Funding CEO Wayne Tower.
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