AMP the good, the bad and the ugly. A short sellers paradise?, page-66

helmich

Surethe business will keep producing revenues but the revenues are declining, mandates are leaving and AUM is flying out the door. I honestly doubt that theycan turn it around from here .INCORRECT

Howdid AMP perform in FY21?
AMP reported its half-year results on 12 August ,highlighting a rebound in its financial metrics. The company achieved a Net Profit After Tax (NPAT)

of $181 million, up 57% on the prior corresponding period. This was largely driven by an increase in Australian wealth management assets under

management (AUM) of $121 billion, up 8%.However,in a positive light, Australian wealth management net cash outflows hit $2.7billion. A massive

improvement compared to the $4 billion in net cash outflows registered in H1 FY20.Furthermore, controllable costs (excluding AMPCapital) came

down 6% to $387 million. The positive outcome was underpinned by cost out benefits partly offset by structural cost increases, variable

remuneration and reinvestment spend .First-half total eligible capital resources stood at $452 million above target requirements, down from $521m

at 31 December 2020.The board decided to maintain a conservative approach to capital management and dividends until its demerger and future