Hunter-based insurance firm NIB reports a 19.4% profit increase and pays a 15-cent interim dividend, despite a 5% share price drop.
Hunter-based insurance firm NIB reported a 19.4% rise in profits for the first half of the financial year, with a net profit after tax of $104m and total revenue up 12.4% to $1.7bn. The company will pay shareholders an interim dividend of 15 cents per share. Despite these positive results, NIB's share price dropped by more than 5% due to market concerns about the low-quality profit growth.
February 26, 2024
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