NIB sees 9.4% uplift in full-year profit
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The news: Health insurer NIB Holdings posted a 9.4% uplift in full-year profit to $198.6 million, as the group's Australian residents' health insurance (arhi) business recorded its highest annual sales result.
The numbers: The net profit figure for FY25 was up from $181.6 million in FY24 and topped market estimates of $179 million, according to Visible Alpha.
Underlying operating profit fell 7.1% year on year to $239.2 million, but was in line with guidance.
Revenue came in at $3.6 billion, 7.8% higher than $3.21 billion in FY24 and ahead of the $3.5 billion expected by analysts.
The company declared a full-year dividend of 29 cents per share, flat compared to the year earlier.
The context: NIB's managing director and chief executive Ed Close said the result reflected consistent growth in its core Australian private health insurance business, and positive outcomes in claims management and operating efficiencies.
The company's arhi business achieved its highest annual sales result and now covered almost 2 million people across Australia and New Zealand.
What they said: "During the year, we stated that our focus would be our engine-room of growth, which is our private health insurance business in Australia and New Zealand, and delivering value to customers," said Close.
"We have taken further action in New Zealand, where conditions have been difficult."
The source: ASX
