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AMP expects higher 1H26 earnings on China growth

AMP tips higher profit for first half, driven by China partnerships and stronger investment returns.

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Laura Stewart
Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein
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The AMP Ltd (ASX: AMP) share price is in focus after the company flagged an expected underlying net profit after tax (NPAT) of $170–180 million for the first half of 2026, driven by stronger China partnerships and increased investment income.

two people celebrating good news high five each other while jumping in the air with a city landscape in the background.

Image source: Getty Images

What did AMP report?

  • Expected NPAT (underlying) for 1H26: $170–180 million
  • China partnerships contributed approximately $56 million, a 24% increase over 2H25
  • Group investment income added roughly $5 million compared to 1H25, benefiting from higher interest rates
  • Platforms saw a favourable $5 million impact from the North Guarantee
  • Recognition of approximately $13 million in carried interest from asset sales
  • Negative revaluation of about $12 million in 'Other Partnerships' sponsor investments

What else do investors need to know?

AMP has received a portion of its carried interest tied to the sale of a 51% stake in legacy fund assets previously held by AMP Capital's International Infrastructure Equity business. The sale, managed by DigitalBridge, delivered $13 million in carried interest recognised in the half-year result.

There is still potential for further carried interest earnings if the remaining 49% interest is sold, but this remains subject to conditions and regulatory approvals, so nothing is guaranteed at this stage.

AMP's full 1H26 results will be released on 6 August 2026, with the company planning to provide more detail on its FY26 outlook at that time.

What's next for AMP?

Investors looking ahead will be waiting on the August results announcement for additional information about AMP's earnings trajectory and future guidance for full-year 2026. The business will likely update shareholders on carried interest developments and its strategic direction in China and other partnerships.

With earnings up on stronger investment income and China activity, AMP appears positioned to keep building momentum as market conditions evolve.

AMP Limited share price snapshot

Over the past 12 months, AMP shares have risen 21%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

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Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

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