Financial services firm AMP has lifted its annual profit by 2per cent as it continues to benefit from its merger with AXA Asia Pacific.
AMP made a net profit of $704 million in the year to December 31, up from $688 million in the previous year.
The previous year's result included only nine months of contributions from AXA Asia Pacific, following the $4 billion merger between the two companies in April 2011.
AMP's underlying profit in the year to December, which excludes impacts from mergers and movement in investment markets, was $955 million, up from $909 million in 2011.
"The strong performance of our wealth management business reinforces the benefits of the merger with AXA, with a suite of contemporary products and services that cater for all key market segments, supported by Australia's leading financial advice network," chief executive Craig Dunn said in a statement.
He said the business environment would remain challenging in 2013, but sentiment domestically and internationally was improving.AMP declared a final dividend of 12.5 cents per share, franked to 65 per cent, the same as in the previous year.
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