AMP suffers fallout of London's losses

Friday 23rd August 2002

Falling equity markets have hit financial services group AMP, which yesterday reported a 25% lower $A303 million ($352 million) first-half profit.

AMP has a heavy exposure to the British sharemarket, where insurers have suffered from heavy falls. That exposure was the biggest factor in a $A6 million loss from investment activities.

The result was in line with analysts' expectations following two consecutive profit warnings. Since March AMP's share price has fallen 26% to $A14.

AMP's "core recurring operating margins" rose 3% to $A470 million but the company said markets would remain "difficult."

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

GTK - FY26 Investor Briefing Details
ERD - HY27 Financial Results Briefing Details - Amended
SEK - Forsyth Barr Initiates Coverage on Seeka
PHL - HY27 results: first dividend and upgraded guidance
PYS - PaySauce to announce F27 interim results on 26 Nov 2026
ERD - HY27 Financial Results Briefing Details
RAD - Radius Health Profit up 27%; Increased Dividend
CHI - Channel presentation to the UBS Australasia Conference 2026
CCC - Cooks Coffee Company Trading Update
November 10th Morning Report