AXA Asia Pacific (AXA) is a diversified financial services company that has been operating in Australia for over 100 years. The company’s main products are spread across investments, insurance, retirement and superannuation.
AXA was one of the hot stocks late last year after agreeing to AMP’s takeover offer for the group.
On 15 February AXA announced a 1H11 net profit of $602 million, down 11% from a year earlier.
Investment earnings were unchanged at $185.1 million, with the positive impact of falling US bond yields offsetting negative equity market returns.
In Australia, earnings were up 8% to $190 million, mainly due to higher fee revenue. However, earnings at Hong Kong were down 11% to $297 million.
AXA declared an interim dividend of 9.25 cents (unfranked), which was unchanged from a year ago, whilst its share price fell 0.2%.