Wealth management and banking firm AMP Limited (AMP) reported its half year results this morning

CommSec

Online Stockbroker

Wealth management and banking firm AMP Limited (AMP) reported its half year results this morning. AMP's first half Net Profit increased by 5.4% to $393Million while its underlying profit fell 9% to $440Million but still above the company's guidance of between $415 to $435Million recording in late June. AMP had already flagged to the market revenue and business deterioration in its life insurance unit after a large increase in claims and falling demand for its products. AMP's overall cost control is improving down 3% and the integration of AXA is nearly complete. AMP told the market today that its current Chief Executive Officer (CEO) Craig Dunn will retire at the end of the year and Craig Meller the head of AMP's wealth management unit will take over. 1H13 dividend payment of $0.115 share- payable on the 11th of October 2013. Watch here: (VIEW LINK)


CommSec
Online Stockbroker
Online Stockbroker

CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...

Expertise

No areas of expertise

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.