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AMP expands profit by a third as super fund outperforms
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PerthNow
Its statutory profit was up 57 per cent to $154 million, driven by less spending on litigation, remediation and business simplification costs.
AMP Super delivered positive net cashflows of $76 million for the half, after losing $75 million in net outflows a year ago.
Its superannuation business performed strongly for members, with most receiving results that ranked in the top quartile last financial year, AMP said.
AMP also plans to soon roll out a new app for its superannuation members that's currently in testing, Mr Vernon said.
AMP said its platform business for financial advisers turned a $61 million underlying profit, up 15.1 per cent from a year ago.