Heartland Group Holding’s profit guidance of $116 million to $122m has been affirmed by the chair and the CEO with promises of updates as they integrate Australia's Challenger Bank.
At Heartland’s annual general meeting on Thursday, chair Greg Tomlinson said the company expects net profit after tax for the 2024 financial year to be within the guidance range.
This excludes any impacts of fair value changes on equity investments held, the impact of the de-designation of derivatives, and any costs related to the acquisition and integration of Challenger Bank.
“As the acquisition nears completion, guidance will be updated to reflect the impact of Challenger Bank becoming part of Heartland,” he said.
Chief executive officer Jeff Greenslade said he's hopeful Heartland can make some announcements soon.
Back in August, chief financial officer Andrew Dixson told BusinessDesk the lender is still open for business and “cautiously optimistic” about the areas in which it operates.
Article has been updated to indicate the acquisition is not yet completed.
