News

AMP profit falls on declining markets

Sunday 19th of February 2023

The Australian-based business said net profit after tax fell from $42 million to $35 million during the 12 month period to December 21. Average assets under management were down 14.7% from A12.6 billion to $10.8 billion.

During this period it lost its KiwiSaver default provider status and lost A$465 million to the new providers.

Revenue for the year was down A$25 million to A$12...

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