Shares in AMP Ltd (ASX: AMP) spiked sharply in early trade after the company provided a positive earnings update for the first half. AMP’s first half will trounce last year’s result The financial services company said in a statement to the ASX that it expected underlying net profit to come in at $170 to $180 million. This compares to $131 million for the same period last year. There were several reasons for the upgrade, including a stronger contribution from AMP’s China business, a favourable investment income contribution, and a one-off contribution from the partial sale of assets in a legacy…
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