Update to forecast NPAT for FY2023

Heartland Group Holdings Limited (NZX/ASX: HGH) announced that they expect net profit after tax (NPAT) for the financial year ending 30 June 2023 (FY2023) to be within the guidance range of $109 million to $114 million, excluding non-cash accounting items.

The impact of de-designation of derivatives on FY2023 NPAT is a non-cash expense of $6.6 million which will reduce FY2023 statutory reported NPAT, but will not impact Heartland's underlying earnings.

Heartland affirms their FY2023 guidance range excluding any impacts of fair value changes on equity investments held.