AXA Asia Pacific Holdings Ltd
(ASX:AXA) who is currently the target of two separate takeovers by AMP and NAB, has reported a profit of $679 million for the 2009 year after a loss the year before.
The result was in line with expectations, the company forecasting profit of $675 million in January.
Operational earnings, the company’s preferred measure of profitability because it removes unrealized asset fluctuations, came to $554 million.
CEO Andrew Penn says notwithstanding the possible acquisition of AXA, management is firmly focused on continuing to drive business forward and concentrating on maximizing shareholder value.
Mr Penn says the company has navigated its way through the global financial crisis successfully and 2010 is about accelerating its growth.
AXA declared a final dividend of 9.25 cents a share. AXA Asia Pacific posted a loss of $279 million for 2008.
