Things have been looking positive at AXA Asia Pacific since it announced its mid-year results, and the word is that the group will remain committed to its strategy.

The Melbourne-based group recorded a 50% rise in operating earnings in the wealth management and financial protection sectors. And it looks as if the woes of the income protection business have stabilised and may even have contributed to profit.

AXA’s results overall surprised even the best analysts, with AXA Asia Pacfic Holdings announcing a first half profit after tax and before non-recurring items of $138 million.

However, investments earnings for the past six months were down $29 million (9%) compared with the same time last year.

Despite this, Group Chief Executive Les Owen was more than pleased with the results, saying that the past two years have established a very clear strategic direction. “Despite difficult global financial markets, the results demonstrate that we are delivering,” he said.