July 31 (Reuters) - Australian wealth manager AMP Ltd AMP.AX said on Friday it expects underlying profit to more than halve in the first half as the coronavirus pandemic unsettled markets, prompting it to book a loan-loss provision at its banking unit.
The company expects underlying profit from its retained businesses of A$140 million to A$150 million ($100.6 million to$107.8 million). It reported an underlying profit of A$309 million a year earlier.
AMP will report first-half results on Aug. 13. ($1 = 1.3916 Australian dollars)