Axa surprises market with reduced fall in its net profitability

AXA has managed to produce a set of half yearly figures which have greatly reassured analysts. Net profit for the six months was down by 32% to €840mn (US$830mn) from €1.22bn in the corresponding period last year. This was significantly better than the 60% drop in profits that had been expected by the market. It was perhaps one reason why the company rushed to publish its figures some two weeks before they were due.