ASX 200 stock AMP defies market selloff
Sometimes a company’s story changes slowly, and the market starts noticing it step by step. AMP Limited looks like a company that is quietly improving its business, strengthening its balance sheet and returning capital to shareholders. That is why the company is slowly being seen as a steady ASX growth stock.
AMP Limited (ASX: AMP)
AMP Limited operates in wealth management, superannuation, retirement solutions and banking across Australia and New Zealand. Over the last few years, it has gone through restructuring, resolved legacy issues, reduced cost and focused on its core wealth and retirement businesses.
In FY25, the company reported strong improvement in performance. Underlying Net Profit After Tax increased by 20.8% to $285 million while earnings per share also increased significantly. AMP’s total Assets Under Management grew by 9% to $161.7 billion which was supported by positive cash flows and market movements. This shows that the core wealth and platform business is slowly improving and becoming more stable.
Recently, AMP shares also moved higher even when the broader market was weak which was mainly due to the announcement of $150 million on market share buyback. Share buybacks are usually done when companies generate surplus capital and believe their shares are undervalued. This also indicates that management is confident about future cash flows and balance sheet strength.
It is now focusing on retirement solutions, platform growth, digital banking and customer growth across its wealth businesses. The retirement and superannuation industry in Australia has long-term structural growth tailwinds which could support AMP’s future growth over time.
AMP Limited is not a high growth company yet but improving profitability, growing assets under management, capital returns through dividends and buybacks and a clearer business strategy suggest that the company is slowly moving from a turnaround story to a steady ASX growth stock over the long term.
(Source: Company Announcements)
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