Bupa reports 1% rise in pre-tax profits
Bupa has announced its unaudited financial results for the first six months of the year, which show the firm saw revenue rise by 26% to £3.38bn.
Pre-tax profits increased marginally, up 1% to £163.8m.
Cash flow from operating activities surged by 74% to £328.2m, and the number of customers remained broadly the same at 10.3m.
Bupa has also reported that the integration of its major acquisitions is proceeding on schedule.
Chief Executive Ray King has described the performance as good, particularly given the continuing weakness in the world’s economic status.
Interestingly, the recession does not seem to be having a negative effect on Private Medical Insurance (PMI), with the ABI reporting an increase in 2008 from 2007 of 2.7%.
In the UK, as of last year, 7.3m people are covered by PMI.
Category: Financials, Health Insurance News, Insurance News
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