AMP Ltd
(ASX:AMP), who is currently in the bidding race to acquire AXA Asia Pacific Holdings, has reported a 27% jump in profit for 2009.
Net profit after tax for the 12 months to December 31, 2009 came to $739 million up from $580 million in 2008 reflecting improved investment returns.
Underlying profit fell 5% to $772 million for the period.
CEO Craig Dunn says that while Australia’s economic fundamentals are improving, continued global economic uncertainty may mean investment markets remain volatile.
Mr Dunn says over the medium term to long term, however, the fundamentals of the wealth management sector remain very attractive in the company’s core markets.
Commenting on its current bid for AXA Asia Pacific, Mr Dunn says AXA remains strategically attractive to AMP and the company will continue to consider its position and do what is in the best interests of shareholders.
AMP declared a final dividend of 16 cents a share.
AMP paid a total of 40 cents in dividends to shareholders in 2008.
