Key takeaway: The performance was driven by stronger net margins and provision releases offsetting weak underlying operating profits in several business units, including New Zealand.
Despite a 19.4% increase in net profits after tax to A$104 million ($110.5m) that beat the market consensus of $101m, the ASX-listed health and travel insurance company, nib, saw its share price decrease by more than 5% as the market became concerned about results that appeared “somewhat low
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Key points
Revenue: Up 12.4% to A$1.7 billion.
Net profit: up 19.4% to A$104 million.
Key takeaway: The performance was driven by stronger net margins and provision releases offsetting weak underlying operating profits in several business units, including New Zealand.
