Tower Raises Fiscal 2025 Underlying Net Profit Outlook; Shares Up 6%

MT Newswires Live2025-02-05

Tower (ASX:TWR, NZE:TWR) raised its fiscal 2025 underlying after-tax net profit guidance to a range of NZ$60 million to NZ$70 million from between NZ$50 million and NZ$60 million previously, the company said in a Wednesday filing with the Australia and New Zealand bourses.

The company revised its forecast for gross written premiums (GWP) to between 7% and 12%, from a range of 10% to 15%, due to lower average premiums impacting GWP growth.

The company improved its projection for combined operating ratio to between 84% and 86%, down from a range of 87% to 89%.

The insurer will provide further details on its performance at its annual shareholder meeting on Feb. 11.

The company's Australian and Kiwi shares each gained nearly 6% in recent Wednesday trade.

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