when will AMP HIT $3.00, page-2054

Looking at the Update over the weekend raises more concerns.

The 31st July Update is poorly constructed and raises more concerns regarding the balance of the year. I have built a model based on the information provided, but note that nowhere in the Update does the expected result of NZ Wealth appear, you have to get them by deduction. This seems extraordinary given the nervous state of the market generally and the AMP investors in particular.

Anyway here is the model I have constructed which does not inspire confidence, so if I have made some obvious or even not obvious errors or omissions please correct. At the current price it does not look like a bargain and even at $1.00 as suggested by Helmich, it is trading on a PE of around 13 times.



Group Office costs, Investment income and Interest are all my assumptions of course.