INSURANCE comparer iSelect's full year profit has edged three per cent higher despite a recent shift towards lower priced health insurance.
The company made a net profit of $13.4 million in the 2012/13 financial year, up from $12.9 million the previous year.
Chief executive Matt McCann said the company had lifted sales volumes during the year, but received lower revenue per sale towards the end of the financial year due to a shift in demand towards lower priced products.
It is difficult to predict whether that trend will continue, but iSelect still expects to achieve earnings of $30 million in the 2013 calendar year, he said.
"With some early signs of a return to normal private health insurance market conditions, we remain cautious and will closely monitor the market with a view to maintaining our resilience over the next reporting season," Mr McCann said.
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