News: AMP AMP Ltd Says Our FY23 Costs Are On Target To Be In Line With FY22

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    Aug 10 (Reuters) - AMP Ltd (AMP) :

    • OUR FY 23 COSTS ARE ON TARGET TO BE IN LINE WITH FY 22
    • FURTHER A$140 MILLION EXPECTED TO BE RETURNED BY 31 OCTOBER 2023 VIA INTERIM DIVIDEND AND REMAINING ON-MARKET BUYBACK
    • HAVE OUTLINED A TARGET TO DELIVER A$120 MILLION IN RUN RATE CONTROLLABLE COST SAVINGS BY FY 25
    • FY 23 COSTS ARE ON TARGET TO BE IN LINE WITH FY 22
    • COST INITIATIVES ARE EXPECTED TO REDUCE OUR COST TO INCOME RATIO FROM CURRENT 66.2% TO LOW 60S
    • COST EFFICIENCY TO BE A CONTINUED FOCUS FOR GROUP
    • COMMENCEMENT OF TRANCHE THREE CAPITAL RETURN TEMPORARILY PAUSED
    • AS AT Q2-END, TOTAL PLATFORMS AUM A$68,322 MILLION
 
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