A leading financial services company will return millions more to shareholders after a strong performance from its superannuation business in both investment returns and net inflows.
AMP announced Thursday it had made an underlying profit of $174 million for the six months to June 30, up 33 per cent from a year ago.
Its statutory profit was up 57 per cent to $154 million, driven by less spending on litigation, remediation and business simplification costs.
AMP Super delivered positive net cashflows of $76 million for the half, after losing $75 million in net outflows a year ago.
Its superannuation business performed strongly for members, with most receiving results that ranked in the top quartile last financial year, AMP said.
Its biggest MySuper fund, the 1970s Lifestage option, delivered a 11.3 per cent return for 2025/26, compared to the industry average of 9.5 per cent during the period.
“Our AMP Super business delivered top-order returns for members, cementing our superior returns relative to most funds across one, three, five and seven years,” said AMP’s new chief executive, Blair Vernon.
It was the first time since 2017 that AMP’s superannuation and investments division was net cashflow positive during the first half, the company said.
AMP also plans to soon roll out a new app for its superannuation members that’s currently in testing, Mr Vernon said.
AMP said its platform business for financial advisers turned a $61 million underlying profit, up 15.1 per cent from a year ago.
Net cashflows grew 33.4 per cent to $3.1 billion, as 74 net new advisers joined its North platform.
AMP Bank Go, the digital bank aimed at microbusinesses that was launched in early 2025, reached $1.7 billion in deposits, up from $310 million a year ago.
AMP closed its heritage bank to new deposits on July 1 as part of its move to emphasise the new digital bank, which runs on a modern cloud-native platform.
AMP declared an interim dividend of three cents per share, 20 per cent franked, up from two cents per share a year ago.
It also said it would spend another $150 million on share buybacks, after returning $201 million to shareholders during the first half through dividends and buybacks.
AMP shares were changing hands at $2.30 around midday, up 5.7 per cent from Wednesday and 26 per cent higher year-to-date.
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