Medibank Private Limited
(ASX:MPL) has delivered its first annual result reporting a profit ahead of analysts’ expectations to $291 million, an adjusted increase of 12.9 per cent on 2014.
Managing Director George Savvides says the result was ahead of prospectus earnings and dividend forecasts.
The company says the profit gain was led by improved operating profit in the health insurance business where the focus was on costs management and claims management processes.
Looking forward the company says its health insurance operating profit target is above $370 million for the 2016 financial year.
An inaugural dividend of $0.053 per share has been declared, fully franked.
