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.
Image source: Getty Images
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.
