Medibank Private lifts profit for H1 2017

Company News

by Carolyn Herbert

Medibank Private (ASX:MPL) has lifted its half-year net profit by 1.9 per cent to $231.9 million.

The private health insurer says the figure was due primarily to the strong investment income result, offsetting a lower operating profit for the Health Insurance business.

Net investment income was up to $76.8 million, due to higher equity market returns.

An interim dividend of 5.25 cents per share was declared, fully franked.

Medibank has reaffirmed its previously stated outlook that Health Insurance operating profit for FY17 is expected to be $490 million.

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.