Australia's AMP posts 21% rise in full-year profit

Reuters

02/12

Feb 12 (Reuters) - Australian wealth manager AMP AMP.AX posted a 20.8% rise in annual profit on Thursday, aided by stronger adviser-driven inflows into its flagship platform business, as well as lower net cash outflows from its pension offerings.

The money manager posted an underlying net profit after tax of A$285 million ($203.06 million) for the year ended December 31, up from A$236 million reported a year earlier. That was in line with the Visible Alpha consensus estimate of A$285 million.

($1 = 1.4035 Australian dollars)

(Reporting by Nikita Maria Jino and Shruti Agarwal in Bengaluru; Editing by Alan Barona)

((Shruti.Agarwal@thomsonreuters.com))

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