Bupa Group sees profits rise

Bupa, the international healthcare group in the year ended 31 December 2012, saw global revenue up to £8,374m from £8,018m in 2011. Total claims and expenses were £7,845m (2011: £7,818m). Financial income of £125m (2011: £95m) and financial expenses of £70m (2011: £74m) meant profit before taxation was £584m, almost triple the £220m posted in 2011. Nearly all of this improvement’ can be explained by impairment charges for Bupa’s US based disease management company Health Dialog, which were £165.8m in 2011 and which, along with other impairment costs of the MBF brand in Australia transitioning to the Bupa brand, had contributed to the lower profit before tax that year. Growth for the business has been driven by increased profits, of 12% in Australia and New Zealand, of 7% in Spain and Latin America and 13% for the international private medical insurance (PMI) division.