Tower Limited revised earnings guidance for the full year of 2023. Full year guidance is revised its underlying net profit after tax (NPAT) FY23 guidance to between $7 million and $10 million including large events, up from a range of between a loss of $2 million and a profit of $3 million, based on preliminary unaudited results. Tower's previous profit guidance issued on 19 July assumed full use of its $50 million large events allowance.

However, due to lower-than-expected costs from Vanuatu cyclone claims, favourable foreign exchange rates and experiencing no large events since May 9, large events costs in fiscal year 2023 are now expected to total around $38 million.