Investors pushed AMP higher in morning trade after the wealth group raised its first-half underlying profit outlook to a range of $170 million to $180 million. The upgraded guidance reflects accelerating earnings from AMP’s partnerships in China combined with more favourable returns on its investment portfolio.
Shares climbed 5.9% to $1.83 by 11:59am AEST as the new numbers landed.
AMP’s collaboration with Chinese partners is delivering higher fee income and improved scale benefits across its wealth and investment platforms. Favourable investment income suggests asset markets have moved in AMP’s favour, helping offset broader industry pressure on margins.
The underlying profit guidance, focused on core operations rather than one-off items, gives the market a clearer read on sustainable earnings power. Analysts watching AMP point to the combination of offshore growth and investment performance as a key driver of the upgraded range.
