Wealth manager Amp reported a 24.5% slump in half-year profit but has committed to returning $1.1 billion to shareholders over the next 12 months.
The firm said it had made significant progress simplifying its portfolio to make the company more efficient.
?Despite the decline in investment markets, our business is well positioned with a robust balance sheet that will help us to drive forward through a period of continued economic uncertainty,? said Amp CEO Alexis George.
Amp?s share price was down more than 3% at the open of trade.