AMP Limited

By Intelligent Investor · 27 Feb 2002

By Intelligent Investor ·
27 Feb 2002

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AMP Limited - AMP

Current price

$1.11 at 11:20 (19 April 2024)

Price at review

$18.87 at (27 February 2002)

All Prices are in AUD ($)

The Goliath of Australian insurance reported its full year result today. Net profit fell 40% to $690m due to poor investment returns. The disappointing result highlights the dependence of insurance companies on investment returns. A final dividend of 26 cents was declared (ex-date unknown) franked to 15%. It looks like the company has also coined a new phrase - contemporary cashflows (we're not aware of any other companies using this one yet). Who knows if this new buzzword will take off. The spin doctors were at work emphasising the increase in 'core recurring operating margins'. But try as they might, the headline result was there for all to see and the market certainly didn't miss it. We'll have a full review next issue but until then, HOLD WHILE UNSTABLE.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

AMP Limited

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AMP Limited

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