Solid Result Says Health Group
The Age
Thursday September 25, 2008
HEALTH-CARE, retirement living and financial services mutual Australian Unity has recorded flat profit growth as health insurers size each other up as potential merger partners.
It reported $32.3million after-tax profit for the year to June 30, a result it described as "solid" despite representing an increase of just 0.6% on a year earlier. Australian Unity's health insurance business, the country's sixth largest, reported 3.8% revenue growth, but the group declined to reveal the profit recorded by the division. The health insurer has not yet been a part of the past year's consolidation but rival funds are likely to be interested.In its retirement home business, the group reported 19% pre-tax profit growth across its 15 retirement villages and four aged-care facilities. Its investments business, with $6.5 billion under management, recorded 12.3% profit before tax.LINK? www.australianunity.com.au
© 2008 The Age
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