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Australia's AMP full-year profit plunges 32%

Published 11/02/2021, 07:50 am
Updated 11/02/2021, 07:54 am
© Reuters.
AMP
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Feb 11 (Reuters) - Australian wealth manager AMP Ltd AMP.AX on Thursday reported an 32.8% drop in annual profit as concerns around coronavirus-induced market pressure and internal governance drove net cash outflows from its flagship fund management arm.

Underlying profit for the year ended Dec. 31 fell to A$295 million ($227.77 million) from A$439 million a year ago, AMP said.

($1 = 1.2952 Australian dollars)

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