SYDNEY: AMP Ltd reported yesterday Australia’s second biggest corporate loss to date as it closed the chapter on its ill-fated expansion into Britain with massive write-downs that pushed net earnings A$5.5bil into the red.
But the 150-year-old insurer and fund management company's remaining Australian operations surprised the market with healthier-than-expected annual profits before one-off items.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!