AMP 1st Half Net Profit Rises 17.4% To A$425 Million
19 Août 2010 - 1:06AM
Dow Jones News
AMP Ltd. (AMP.AU) said Thursday first-half net profit rose 17.4%
to A$425 million from A$362 million a year ago as the group
adjusted its product offering in the face of government reviews
into fees charged on superannuation.
Analysts, according to a poll of five by Dow Jones Newswires,
were expecting net profit of A$383.4 million in the period ended
June 30.
Underlying profit was A$383 million, up from A$367 million in
the same period a year ago. That measure removes the impact of some
of the market volatility. That result fell short of the market's
expectations, Chief Executive Craig Dunn said.
On the ongoing pursuit of AXA Asia Pacific Holdings Ltd.
(AXA.AU), management said the company "remains strategically
attractive to us." National Australia Bank (NAB.AU) is the
front-runner in the bidding war for AXA, although NAB has yet to
satisfy competition authorities with its bid.
AMP declared an interim dividend of 15 cents a share, compared
to a dividend of 14 cents a share in the year earlier period.
-By Cynthia Koons; Dow Jones Newswires; +61-2-8272-4691;
cynthia.koons@dowjones.com
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