tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Tower Limited Updates FY25 Financial Guidance with Positive Outlook

Story Highlights
Tower Limited Updates FY25 Financial Guidance with Positive Outlook

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Tower Limited ( (AU:TWR) ) just unveiled an announcement.

Tower Limited has updated its financial guidance for FY25, projecting an underlying net profit after tax between $100m and $110m, up from the previous estimate of $70m to $80m. This increase is attributed to lower-than-expected large event costs and a strategic focus on house insurance, which has driven a 5% growth in customer base and a 10% increase in house insurance policies. Despite a reduction in average premiums due to competitive pricing and a focus on lower-risk policies, Tower anticipates sustainable growth. However, the company has revised its gross written premium growth to 2%-3% and adjusted its management expense ratio to around 31%, reflecting ongoing investments in technology and customer acquisition.

More about Tower Limited

Tower Limited is a New Zealand-based insurance company primarily focused on providing house insurance. The company has a strategic emphasis on the New Zealand market, where it has seen significant growth in its customer base and policy numbers.

Average Trading Volume: 33,934

Technical Sentiment Signal: Buy

Current Market Cap: A$527.7M

For a thorough assessment of TWR stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1