Medibank has reported an 11 per cent decrease in net profit, landing at $302.9 million for the half-year ending December 31. This downturn is attributed to reduced investment income and the financial impact of cybercrime, which collectively overshadowed gains in its health-related business segments. Medibank is a leading private health insurer providing health cover to millions of Australians, as well as a growing health services provider. The company aims to deliver better health outcomes for its customers.
Underlying net profit saw a more modest dip of 0.3 per cent, settling at $297.8 million. Despite the profit decline, the board has announced a fully franked interim dividend of 8.3 cents per share, marking a 6.4 per cent increase. This decision reflects confidence in the company’s underlying performance and future prospects.
Chief Executive Officer David Koczkar commented on the results, stating that the ongoing strong performance of Medibank Health enables the company to reinvest confidently to foster future growth. He also noted that the increasing diversification of the business now accounts for approximately 13 per cent of group earnings. Group operating profit experienced a 6 per cent rise to $381.7 million, primarily fueled by a 28.5 per cent increase in profit within the Medibank Health segment.
The insurer reaffirmed its financial year 2026 outlook, projecting resident claims growth between 2.6 per cent and 2.9 per cent, alongside disciplined efforts to expand its market share. Medibank continues to focus on strategic investments and diversification to navigate market challenges and sustain long-term growth.
