AMP Limited
(ASX:AMP) says its first half net profit lifted 10 per cent to $383 million, boosted its merger with AXA Asia Pacific.
The wealth manager’s underlying profit, excluding one-off items, lifted by 7 per cent to $491 million.
CEO Craig Dunn says the AXA merger has substantially enhanced AMP’s competitive position and the integration continues to deliver ahead of expectations.
Looking ahead Mr Dunn says AMP has noted structural change across the financial services sector, changing consumer preferences, the emergence of new technologies, challenges and opportunities of an ageing population and significant regulatory change.
AMP has lowered its dividend to 12.5 cents per share, it says partially due to ongoing investment market volatility.
