First Impression: AMP (AMP) FY16

Bell Potter

FY16 Reported NPAT -$344m, versus our -$212m estimate; | AMP has decided to return the $500m in excess capital via an on market buyback (versus our expectation of a capital return to shareholders via one-off payment); | AMP has flagged it intends to reduce its cost base (excluding AMP Capital) by around 3% in FY17, which compares to a -14% drop in adviser numbers over the last year. | Outlook: No quantitative guidance provided. | Today’s share price reaction: Up 2.6% to $5.16 (10.05 am).

AMP - First Impression.pdf


Bell Potter

Bell Potter is a member of the Bell Financial Group (BFG) of companies. We are one of Australia's largest full service stockbrokers and a leading financial advisory firm, offering a full range of services to private, corporate and institutional...

Expertise

ASX:AMP Longform

Comments

Please sign in to comment on this wire.