AMP (AMP) Everything is awesome
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)
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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.
Stockbroker
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.
Expertise
Stockbroker
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.
Expertise
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