Tower (NZE:TWR, ASX:TWR) now expects its fiscal 2025 underlying net profit after tax to reach between NZ$70 million and NZ$80 million, up from a previous guidance range of NZ$60 million to NZ$70 million, according to a Tuesday filing with the Australian and New Zealand bourses.
The guidance assumes full utilization of the NZ$50 million large events allowance, per the filing.
The Kiwi insurer has recorded only one large event so far in the fiscal year ending Sept. 30. This was the Dunedin flood in October 2024, which incurred around NZ$3 million.
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