AMP's NZ financial services lift 1H earnings 5% on KiwiSaver flows

Wed, 20 Aug 2014

By Paul McBeth Aug. 21 (BusinessDesk) - AMP's New Zealand financial services unit lifted first-half earnings as it increased KiwiSaver cashflows and boosted funds under management, while improving its margins. Operating profit rose 5 percent to $59.4 million in the six months ended June 30 from the same period a year earlier, while a strong New Zealand dollar fattened the return to the Australian parent, delivering earnings of A$55 million from A$46 million, AMP said in a statement. The New Zealand business trimmed controllable costs by $...

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