AMP posts slight dip in H1 profit

By Mitchell Neems

AMP says its transformation into a leaner, more efficient, customer-driven business remains on track, despite registering a slight dip in interim profit and a 20 per cent slide in revenue.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Underlying profit was $510m, a 16 per cent lift on the $442m in the previous year, but just below the consensus of analysts surveyed by Bloomberg at $515. 3m.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

In the six months to June 30, AMP delivered a net profit of $382 million, a 3 per cent decline on the previous year.

Read more here: Business Spectator


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