Australian shares are set to open lower, tracking New York; Latitude drops interim dividend; BlueScope appoints Jane McAloon as chair. Follow updates here.
Latitude’s cash profit for the first half of 2023 has dived 88 per cent to $7 million, with the lender also removing its interim dividend.
It reflects a torrid time for the company, whose shares have plunged more than 25 per cent to $1.18 in the last 12 months. The period also includes the catastrophic data breach at Latitude, which was first discovered in March. Chief executive Bob Belan said, “the first six months of 2023 have been among the most challenging in Latitude’s history”.“Latitude’s half-year result reflects what has been a persistently difficult macro environment for financial services businesses and, of course, the operational disruptions caused by the March cyberattack on our company,” Belan said.
“We will continue to work diligently to continuously review and enhance the security of our systems and, importantly, accelerate the delivery of our refreshed strategy, focused on improving the experience for our customers and elevating the financial performance in our core Pay and Money divisions.”1 hr ago
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