For FY17, Medibank Private Ltd Subdued outlook for FY18

Subdued outlook for FY18: For FY17, Medibank Private Ltd (ASX: MPL) reported 7.6% yoy growth in NPAT to $449.5 million, primarily driven by 134.9% increase in investment income at $139.3 million, more than offsetting lower operating profit for Health Insurance business. Health Insurance Operating Profit decreased to $497.5 million from $510.7 million in FY16, led by increased investments in customer benefits and new IT system amortisation. Moreover, the overall premium revenue witnessed a subdued growth of 1.2% yoy, while paying record $5.2 billion in benefits to customers. Further, industry volume growth continued to slow during the year and reflecting challenging business environment. Medibank health revenue declined 3% yoy to $552.1 million, however, operating profit rose 44.0% to $35.7 million due to the divestment of underperforming businesses in 2016. The stock has moved up about 6.7% on August 25, 2017. 


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