Extent of China Partnerships Boost to Earnings Surprises AMP Bull

Dow Jones
07/17

Citi had expected wealth manager AMP's China Partnerships business to boost earnings by more than the market expected, but it was still surprised by the size of its contribution in 1H. AMP has guided to a 1H underlying net profit of A$170 million-A$180 million. That represents a 25% beat to consensus hopes. AMP said the 1H contribution from China Partnerships, which includes China Life Pension Company, would be some A$56 million. "Looking forward, while some of AMP's earnings contributors look set to be a bit volatile, solid assets under management growth from CLPC seems to imply profits from Partnerships will be sustainably higher going forward," analyst Nigel Pittaway says. Citi raises its FY26 and FY27 EPS forecasts by 13% and 7%, respectively. It retains a buy call on AMP's stock. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

July 16, 2026 18:47 ET (22:47 GMT)

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