The AMP Ltd (ASX: AMP) share price is down more than 2% after reporting its FY25 half-year result.
AMP is a diversified financials business that has a bank and also offers superannuation and other investment platforms.
AMP FY25 half-year result
The company reported h0w it performed in the six months to 30 June 2025 compared to the prior corresponding period. Let’s take a look at those highlights:
- Platform underlying net profit up 7.4% to $58million
- Superannuation and investments underlying net profit flat at $34 million
- AMP Bank underlying net profit up 2.9% to $36 million
- New Zealand wealth management underlying net profit up 11.8% to $19 million
- Total underlying net profit up 9.2% to $131 million
- Statutory net profit down 5% to $98 million
- Dividend per share of 2 cents
AMP management were pleased with the company’s continued discipline and delivery of its strategy.
Platforms saw “strong” net cashflow growth of 98.7% for the half. The company noted greater net flows from North from existing and new advisers, as well as improvements in flows for the superannuation and investment business.
The ASX financial share said that its controllable costs were down 4.4% to $303 million, which was in line with its FY25 commitment and absorbing inflationary pressures and reflecting “continued cost discipline”.
Management comments
The AMP CEO Alexis George said:
We are scaling innovative new solutions that reinforce our leadership position in Retirement. We’ve seen ongoing growth in AUM in our MyNorth Lifetime retirement solution, and we’ve created a version of this, Lifetime Super, which is now accessible to 140,000 AMP Super members. We are now also beginning to leverage these insights and innovations for the solutions in our New Zealand business. Retirement is the space where we want to focus, and we will continue to innovate in terms of customer solutions and education.
With our digital challenger bank, we remain focused on growth and those smaller segments that offer margin opportunity. Since the launch of AMP Bank GO in February, we have delivered a series of new features and functionality to drive take up from both personal banking and the underserved market of mini businesses (sole traders and small business). In keeping with the agile approach, further deliverables will occur over the next six months.
Final thoughts on the AMP share price
The business is heading in the right direction, but investors may be wanting more from the ASX financial share.
Considering it has risen 35% since 20 June 2025, I think the short-term opportunity has passed. If we could know if underlying net profit were going to continue rising by an average of 10% per year in the coming years, it’d be easier to justify an investment today, but AMP is not the sort of business I’m looking to buy for my own portfolio.
Instead, there are other ASX dividend shares I’d buy first.
