AMP NZ earnings up 2pc

AMP Financial Services (NZ) has reported 2 per cent growth in operating earnings to $68 million for the year ended December, but in Australian dollar terms the earnings were down 4 per cent.

Australian parent company AMP lifted net profit 27 per cent to A$739 million ($944 million).

"The future outlook for the NZ operating environment continues to be challenging, with tax and further regulatory changes expected," the company said from Sydney.