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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.
[optin-monster-shortcode id="wxhmli4jjedneglg1trq"]âPrevious FY18 Group UOP guidance for NIB was a minimum of $165.0 million and a benign claims environment especially in its Australian residentâs health insurance business was the main factor behind the revised outlookâ, the managing director said. NIBâs 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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