Australia's AMP posts 21% rise in full-year profit
Reuters
Feb 12
Australia's AMP posts 21% rise in full-year profit
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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