For the financial year ended 30 June 2018, unaudited Group Underlying Operating Profit will be approximately $184.0 million (against $165 million stated earlier), as per the FY18 update given by NIB Holdings Limited (ASX: NHF). The update represents a lift in the earnings guidance. The result also includes earnings from the acquisition of GU Health in October 2017 as indicated by the company.
‘Previous FY18 Group UOP guidance for NIB was a minimum of $165.0 million and a benign claims environment especially in its Australian resident’s health insurance business was the main factor behind the revised outlook’, the managing director said. NIB’s arhi business expects to pay $1.46 billion in claims in FY18 which is up by 4% on the previous year notwithstanding net organic membership growth of 3%, which excluded the impact of the GU Health acquisition in October 2017.
NIB Holdings Limited (ASX: NHF) is trading at a current market price of $6.245, up 9.6% on August 13, 2018 (2:50 PM AEST) with a performance change of -3.39% over the past 12 months while it rose 0.71% in the past 3 months.
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