Feb 14 (Reuters) - AMP Ltd (AMP) :
- COMMITTED TO ACHIEVING CONTROLLABLE COSTS OF ABOUT A$690M FOR FY 24
- EMPLOYMENT COSTS REDUCTIONS EFFECTED IN 2H23 WILL DELIVER FULL YEAR IMPACT IN FY24
- SEES ONE-OFF SPEND OF A$120M-A$150M OVER FY 24 AND FY 25 TO ACHIEVE THE COST-OUT
- CONTINUE TO TARGET CONTROLLABLE COST BASE OF A$620-A$640M BY FY25
- ANTICIPATE ABSORBING COST UPLIFTS FROM INFLATION AND CONTINUED INVESTMENT IN AMP’S GROWTH BUSINESSES IN FY24
- AMP BANK FY24 NIM EXPECTED TO BE BETWEEN 1.10% AND 1.15%
- SEES PLATFORMS FY 24 AUM BASED REVENUE MARGINS EXPECTED TO BE BROADLY IN LINE WITH FY 23
- MASTER TRUST FY24 AUM BASED REVENUE MARGINS EXPECTED TO BE BROADLY IN LINE WITH FY23
- STRATEGIC PARTNERSHIPS ANTICIPATING COMBINED ABOUT 10% PA RETURN ON INVESTMENT THROUGH CYCLE
- SEES FY 24 SIMPLIFICATION SPEND OF A$60 MILLION - A$75 MILLION PRE-TAX
News: AMP AMP Ltd Says Committed To Achieving Controllable Costs Of About A$690M For FY24
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