AMP 0.90% $1.10 amp limited

If only Alexis kept to her commitment to inform the market on...

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    If only Alexis kept to her commitment to inform the market on the BB when APRA approved it AMP would be kicking of the BB $0.20 below current price.

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    AMP chief executive Alexis George is a fan of Married at First Sight. “Happy Valentine’s Day. I’m a MAFS woman,” she told Capital Brief after AMP’s market stirring annual result yesterday.

    But while MAFS might be notorious for broken vows, George says the surge in AMP’s share price yesterday comes back to the market starting to believe in the financial group’s commitments.“Absolutely, 100% I’m most proud we are delivering on our promises," she said.“We just continue to deliver. We deliver on cost.

    The margin outlook hasn't changed, so there's no change there. We continue to deliver the balance sheet. It's just keep on delivering what we say we're going to do.”AMP’s result, a 32% slide in its full-year statutory profit to $265 million amid lower earnings from strategic partnerships and high remediation related costs, might not have looked good but it was substantially better than investors were expecting.

    According to S&P CapitalIQ, normalised earnings per share for the December half of 3.0c compared with expectations of 2.0c.

    New chair To underline the maturity of AMP’s transformation, crisis chair Debra Hazelton announced her retirement yesterday after five years to be replaced by fellow director and nine year Bendigo & Adelaide Bank chief executive Mike Hirst.
 
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