AMP +13.27% rallied on an improving operational performance.
- FY24 Underlying net profit after tax (NPAT) of $118m was above expectations
- Cost out is progressing, and they guided to $660m for controllable costs, which is 5% below consensus.
- No dividend or additional capital management – a bit disappointing.
AMP is having some success turning the ship around, and todays result is another step in the right direction.
MM remains cautiously bullish AMP
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