0914 [Dow Jones] AXA Asia Pacific (AXA) expected to win support after FY03 NPAT up 180% at A$926 million. Headline result mainly inflated by A$366 million sale of health business. Still, operating earnings - which analysts focus on - up 97% at A$537 million, beating market estimates which ranged between A$390 million and A$483 million. Result buoyed by recovery of investment earnings; AXA feels impact of 34% rise in AUD over past year, which wiped A$80 million from headline earnings. AXA also flags prospect of capital management initiatives, but these won't be announced until interim earnings. AXA last traded at A$2.71. (ERJ)
AXA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
