AMP profits fall 97% to $28m after disastrous year for wealth manager

Royal commission exposed fees-for-no-service scandal and forced CEO and chair to quit

The beleaguered wealth manager AMP has slashed its dividend after its full-year profit plummeted 97% to just $28m.

Revenue from ordinary operations slumped 55% to $820m and AMP cut its final dividend from 14.5c to 4.0c.

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from The Guardian http://bit.ly/2N3FRY0
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