NobleOak Life Ltd (AU:NOL) has released an update.
NobleOak Life Ltd reported mixed financial results for FY24 with a 19% increase in Underlying NPAT to $15.0 million, despite a 31% decrease in Statutory Reported NPAT to $9.3 million due to one-off costs and changing economic assumptions. The company has achieved a key milestone by generating positive free cash flow and has opted to reinvest in the business rather than pay dividends, underpinning ongoing growth and a robust capital position with a 193% regulatory capital multiple.
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