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.


 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.