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AMP BOOKS AUSTRALIA'S 2ND-BIGGEST CORPORATE LOSS.

Publication: AsiaPulse News
Publication Date: 04-MAR-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SYDNEY, March 4 Asia Pulse - AMP Ltd (ASX:AMP) today booked Australia's second biggest corporate loss.

Writedowns and costs from spinning off its British operations have left the group $A5.542 billion ($US4.15 billion) in the red in 2003.

The loss for AMP, which demerged its struggling United Kingdom business HHG Plc in December last year, compared to a million loss in 2002.

The insurance and financial services company's net profit after tax and before other items for the year to December 31, 2003 was $619 million for the demerged AMP.

That compared...

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