AMP
(ASX:AMP) released their first half 2019 results showing a $2.29 billon loss, compared to the second half of 2018 where they saw a loss of $87 billion.
They report $2.35 billion impairments predominantly non-cash, to address legacy issues and for the future of the company.
They saw underlying profit of $309 million, driven by earnings growth in AMP Capital and AMP Bank performance.
They announced a $650 million capital raising to help pay for a $1.3 billion three-year transformation program.
Resolution Life to be sold in a revised deal worth $3 billion.
Chief Financial Officer John Patrick Moorhead has decided to leave.
The Board decided not to declare a first half 2019 dividend.
Shares in AMP
(ASX:AMP) are in a trading halt - last traded at $1.73.
