AXA Asia Pacific, which is the subject of a takeover by the National Australia Bank, says its first half profit fell by 19%, as expected, due to weak global markets.
Its after-tax profit fell to $A219 million in the six months to June, compared to 270 million a year ago.
However, the company's New Zealand business increased its operating earnings by 22% to $A16 million, due to a recovery in investment markets and growth in its financial protection business.
AXA Asia Pacific made no comment about the takeover offer from NAB, which has hit a regulatory roadblock.
