News: AMP Australia's AMP annual profit drops about 34%

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    Feb 16 (Reuters) - Australian wealth manager AMP (AMP) posted an about 34% fall in annual underlying profit on Thursday, citing market volatility and margin compression at its banking unit.

    For the year ended Dec. 31, the 174-year-old firm reported an underlying net profit after tax of A$184 million ($127.03 million), compared with A$280 million a year earlier, and declared a final dividend of 2.5 Australian cents per share.

 
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