AMP (AMP) Everything is awesome

Bell Potter


AMP (AMP) Everything is awesome. The all-important net-flows on AMP Platforms closed the year with $3.4 billion in flows vs our $3.5 billion estimate. Underlying ROE up two percentage points to 12.7%; Excess capital at $2 billion. Controllable costs tightly managed; cost to income ratio down 4.6 percentage points to 44.8%. This is a good result with broad growth across the business, the Life Company continuing to show improvement (lapse rates and claims tracking better than or as expected) and with net-flows and closing FUA/FUM largely in line with our expectation. And all this comes before accounting for the recent market rally, with the ASX200 up over 9% since the end of December. Outlook: No quantitative guidance provided Today's share price reaction: Up 4.2% to $6.77 (11.10 am). Read more here (VIEW LINK)

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.