Management reiterated its commitment to a stable balance sheet in the 2015 full year results.…
AMP reported a strong full year 2015 underlying profit of $1.12 billion, up 7.2% on 2014. Four of the six business units experienced strong single or double digit underlying profit growth with the standout being Australian wealth management with $410million, up 9.6% for the year. We expect this pattern to continue over 2016 as assets under management across the retail platforms continue to grow (albeit at slightly lower margins) and the wealth protection business continues its recovery and the business efficiency program is keeping variable costs low.
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