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AMP Limited ( (AU:AMP) ) just unveiled an update.
AMP Limited reported a 15.1% increase in underlying NPAT to $236 million for FY 24, driven by strong performance across its wealth businesses and strategic cost management. The company successfully completed the sale and transition of its Advice business and returned $1.1 billion in capital to shareholders. Despite a reduction in statutory NPAT due to business simplification costs, AMP’s wealth businesses have shown significant growth, with the AMP Bank launching a new digital platform. The company is positioning itself as a leader in retirement solutions and digital banking, reflecting a strategic focus on growth and innovation, supported by increased net cash flows, improved earnings per share, and a declared final dividend.
More about AMP Limited
AMP Limited is a financial services company based in Australia, focused on wealth management, banking, and retirement services. It operates in several segments including platforms, superannuation and investments, AMP Bank, and New Zealand wealth management, with a strong emphasis on digital transformation and cost efficiency.
YTD Price Performance: 12.24%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.8B
Find detailed analytics on AMP stock on TipRanks’ Stock Analysis page.
