NHF +12.46%: Delivered better-than-expected results as Australian Residents Health Insurance (ARHI) margins exceeded expectations, with earnings guidance of $235-$250m maintained for the full-year.
- Revenue $1.84 billion, +7.9% y/y
- Underlying operating profit $105.8 million, -27% y/y
- Interim dividend per share $0.13 vs. $0.15 y/y
The first-half decline in underlying operating profit was expected cycling off strong margins in FY24 and weaker New Zealand earnings amid economic challenges and claims inflation. 2H25 improvement should follow considering continued strength in ARHI and international segments, and a return to profitability in New Zealand.
MM cautiously bullish NHF
Add To Hit List
