Shares in Netwealth Group (ASX:NWL) have slipped as much as 3.9% to A$14.17, marking the potential for their worst trading day since July 14, contingent on whether these losses persist.

Despite reporting a higher FY net profit of A$67.2 million, an increase from the previous year’s A$55.6 million, the financial service company did not meet the Visible Alpha estimate of A$67.8 million.

Netwealth reported a FY2023 revenue of A$207 million, a rise from A$172.9 million in the previous year, and finalised a dividend of 13 AU cents per share.

The company added that it has commenced FY24 with an impressive pipeline and a high rate of success for new business across all its primary segments.

The shares hit their lowest point since August 4, yet they are up 21.9% this year as of the most recent market close.

Netwealth Group (ASX:NWL) is a financial services company widely recognized for its strong business pipelines and proficient operation in key market segments.