BUPA profits fall amid hard times in key markets

  Bupa said operations in the United Kingdom were unlikely to grow much until the company has begun recruiting still useful to private Bupa health group fell 72 percent to 118 million pounds in the year 2010 a year of cost cutting, writedowns and layoffs.

BUPA blamed the difficult economic conditions in key markets in the UK and USA, where reforms of unemployment and health care operations are affected.

Profits were affected after the company unveiled a ￡ 249. m write-down of the value of the property and acquisitions.

With this successful one-off stripped out underlying profits were up 9 percent to 465 million pounds.

Revenues in Europe and the U.S. Division rose 1 percent, as companies cut jobs and reduced health benefits for staff.

But better done by Bupa outside these regions, with a turnover of other international operations up to 20%.

Ray King, chief executive of Bupa, said he hoped that would stabilize the numbers of customers in the UK in 2011.

"Up to" corporates expand their payrolls once again, the opportunity for growth is a bit limited, he said.

In the United Kingdom, Bupa cut staff numbers by 15%-almost 500 people-resulting in a one-time restructuring charge of ￡ 6. 6 m.

However, with the constant growth in Asia Pacific and Latin America, we expect further strong impetus to our businesses in these markets, "Mr King said.

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