Australian Unity’s profit up by 16 per cent
Australian Unity has delivered a 16.4 per cent growth, year-on-year, in profit after tax, while the revenue went up by 43 per cent helped by the growth generated by the group’s businesses.
According to the company, the increase in revenue was driven by a full half-year of revenue from Home Care NSW and health insurance and benefit fund revenue.
At the same time, the aggregate adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) showed a 4.4 per cent growth year-on-year amounting to $52 million.
At the same time, the group’s operating earnings were $0.5 million down due to investments made as a part of the group’s programme to integrate the Home Case NSW business into Australian Unity’s operations.
Australian Unity’s group managing director, Rohan Mead, said the company continued investing in growth by building strategically “on the step-changes that were a feature of the previous year”.
“Expansion and organic growth has continued across the group as it pursues its strategic ambitions,” he said.
“During the half-year, the integration of the Home Care NSW business continued to be a major priority requiring substantial integration investment.”
The company also launched Australian Unity Trustees which would provide estate planning, trustee, attorney, administration, executor, estate administration, philanthropic and native tile services.
“Establishing a trustee services business has been a long-term strategic objective for Australian Unity,” Mead said.
“There is an increasing need for estate planning and trustee-type services as the Australian population ages and personal circumstances become more complex, for instance with blended families, diseases of aging such as dementia, and varied superannuation positions,” Mead said.
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