nib defies industry trends and posts solid first half result

Company News

by Anna Napoli

Health insurer nib (ASX:NHF) has announced its half year results for financial year 2019 with net profit and revenue both lifting on a year on year basis.

Net profit after tax rose almost 5 per cent to $74.3 million.

Total Group underlying revenue increased by 10.9 per cent to $1.2 billion.

NIB's net margin lifted 150 basis points to 8.8 per cent up from 7.3 per cent.

The company declared an interim dividend of 10 cents per share fully franked. An increase of 11.1 per cent on the year earlier period.

Managing Director, Mark Fitzgibbon says the strong first half result defied industry headwinds and was indicative of the good progress nib is making on a number of fronts such as better managing healthcare provider fees and helping members manage health risk and sickness.

Shares in nib (ASX:NHF) are trading 0.17 per cent higher to $5.83.


 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.