Australian Unity has announced a solid profit after tax result of $32.3m for the year ended 30 June 2008 (2007: $32.1m), with operating earnings from continuing operations up some 55 percent.

The positive result included increases in revenues across each of the Group's continuing operations and came despite a material impact on corporate investments from the volatile financial markets.

Highlights for Australian Unity in FY08 include:

Health

• Revenue of $473.7m (Up $17.5m (2007: $456.2m))
• Acquired two villages for upgrade and expansion (Now operates 15 villages and four aged care facilities)
• Strong investment in preventative health and chronic disease management services (Expansion of programs to members to include osteoporosis, with more to come)
• Average premium rise of 4.65% (Under national average for seventh year running)

Retirement Living

• PBT of $10.6m (Up 19% (2007: $8.9m))
• Acquired two villages for upgrade and expansion (Now operates 15 villages and four aged care facilities)
• Purchased parcels of land for new development (Pipeline target of 4,000 places on track for 2012)

Investments

• PBT of $8.1m (Up 12.3% (2007: $7.2m))
• Funds under management of $6.5b (Up $14% ($5.7b in 2007))
• Diversified portfolio of in-house expertise and joint ventures (Added Wingate global equities joint venture to portfolio)
• Consistently high ratings (Platypus awarded S&P 4 stars)

Personal Financial Services

• Adviser network grown to 47 (Up by 27% (2007: 37))
• Revenues of $4.9m (More than doubled (2007: $2.3m))
• Funds under advice $471m (Up 57% (2007: $300m))

Australian Unity Limited (ABN 23 087 648 888) is a public company and serves over 400,000 members, customers and their families nationwide. Its operations employ more than 1,250 people.

The 2008 Annual Report provides a review of operations for the year, detailed financial statements of the company, as well as the Directors' and auditor's report.

If you are an Australian Unity member and would like to receive a copy of the Annual Report next year, please contact us on 13 29 39.