Australian Unity’s profits were adversely affected by the unrealised positions attributable to financial market declines, which were recorded against investment income. Our profit after tax was $1.1 million for the year ended 30 June 2009 (2008: $32.3 million).
Our structure, however, has allowed us to us be resilient through this current period of turbulence and uncertainty. Our mutual structure allows us to focus on the long term best interests of members, rather than the short term needs of shareholders.
Highlights for Australian Unity in FY09 include:
- Launch of Remedy Healthcare—the first program of its kind for patients with chronic diseases
- Australian Unity received Canstar Cannex Innovation Excellence Award for its market leading member wellness benefits designed to help members get healthy and stay healthy
- Achieved industry leading claim turnaround times
- Retained 100 percent of corporate clients despite economic downturn
- Australian Unity was successful in its bid to develop a Wellbeing Precinct in Carlton, Victoria
- Further allocation of aged and community care places in NSW and Victoria
- Completion of Stage 1 retirement units at both Sienna Grange (NSW) and Victoria Grange (Victoria) villages
- Victoria Grange Aged Care Facility and Constitution Hill Wellbeing and Respite Day Care Centre opened
- Australian Unity Investments was the number one manager for positive net flows in the unit trusts and investment funds category for the March 2009* quarter
- Vianova Asset Management remained the best performing fixed interest manager over a two and three year period**, and won the Australian Fixed Interest Award at the Tenth Annual Australian Fund Manager Awards
- The Healthcare Property Trust (Wholesale) returned 6.51 percent for the year and earned a ‘highly recommended’ rating from leading research house Lonsec and 4½ stars by Adviser Edge—only the third time the latter has awarded this rating
- Continued success in recruiting high quality investment advisers, with the advisory network growing to 59 (up from 47 in 2008)
- Revenues of $5.5 million (up from 4.8 million in 2008)
Australian Unity Limited (ABN 23 087 648 888) is a public company and serves 560,000 members, customers and their families nationwide. Its operations employ 1,300 people.
The 2009 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.
Previous Annual Reports in pdf format
2009
2008
2007
2006
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 or email memberrelations@australianunity.com.au.
* Statistics from independent financial services research group Plan for Life.
** Mercer Australian Core Fixed Income Survey Report – 30 June 2009