AMP expands profit by a third as super fund outperforms

AMP expands profit by a third as super fund outperforms

Shares in AMP have climbed nearly six per cent after the financial services company increased its dividends due to a strong half-year.

North platform remains AMP lynchpin

AMP’s North platform has again emerged as the lynchpin in the company’s first-half results which saw the company report a 33% increase in underlying profit on the back of strong platform net cashflows. The company reported a 57% increase in net profit after tax to $154 million on the back of a 4% increase in revenue from ordinary activities of $1,425 million. The company announced an additional $150 million on-market share buybck and an interim …