Up 98% since March, why are AMP shares leaping higher again on Thursday?
AMP Ltd (ASX: AMP) shares are off to the races.
Again.
Shares in the S&P/ASX 200 Index (ASX: XJO) diversified financial services company closed yesterday trading for $2.18. In morning trade on Thursday, shares are changing hands for $2.30 apiece, up 5.5%.
For some context, the ASX 200 is up 0.6% at this same time.
Today's strong outperformance is par for the course for AMP since the stock plumbed a one-year closing low of $1.16 a share on 12 March. With today's intraday gains factored in, AMP shares have rocketed 98.3% from those lows.
And that's in less than five months!
Now, here's what's stoking investor interest today.
AMP shares jump on profit growth
Today's outsized gains follow the release of AMP's half-year results (H1 2026).
AMP shares are charging higher after the company reported an 8.2% year-on-year increase in assets under management (AUM) to $167.6 billion. Management credited this growth to momentum in AMP's wealth and retirement businesses.
Coming in at $3.1 billion, AMP's Platforms net cash flows increased by 33% from H1 2025. This was driven by new adviser activations and growth from existing advisers.
And AMP was pleased to report that its Superannuation & Investments division delivered its first positive half-year net cash flow result since 2017. The $76 million in net cash flow for the half was up from net cash outflows of $75 million in H1 2025. The company said this reflects growth in inflows and improving member retention.
On the bottom line, AMP shares are catching interest with the company reporting a 33% year-on-year increase in underlying net profit after tax (NPAT) to $174 million.
With profits up, the board declared an interim dividend of 3 cents per share, 20% franked, up 50% from last year's interim payout.
AMP also announced its intention to commence a further $150 million on-market share buyback.
What did management say?
Commenting on the results lifting AMP shares today, CEO Blair Vernon said:
AMP's first half results reflect the momentum we are building as we grow our wealth and retirement businesses, deepen customer engagement and maintain a disciplined approach to capital management…
Cashflows across all our wealth businesses reached new milestones in this half – up 33% in North, turning positive in Super & Investments for the first time since 2017, and up almost 20% in New Zealand…
Releasing capital from AMP Bank and non-strategic assets remains a key priority in our capital management strategy. During the half, we generated $236 million of surplus capital and returned $201 million to shareholders.
The post Up 98% since March, why are AMP shares leaping higher again on Thursday? appeared first on The Motley Fool Australia.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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