London: Humana Inc profit shoots 44 percent. The economy is recovering in the US and other European countries including the United Kingdom. But still the impact of recession can be felt of big companies and businesses. Since the 1999 recession thousands of jobs have been retrenched and many companies have declared themselves bankrupt. It is bad time for companies in these regions.
But there are several companies who are doing well. Some have made profit. And Humana Inc. is one among them.
Releasing its profit details, the company issued a statement saying that it earnings increased by 44 per cent in its fourth-quarter. And the profits were made at a time when medical costs were lower.
Above all, the managed-care company succeeded in swelling its share from $5.15 to $5.35 a 10 cent increase. Economists have praised the company for its achievements. They say it is good that its performance has gone up at a time when most people are distressed and spending on street shops has come down.
The company has captive customers specially the seniors. The company provides privately run supplemental health plans. And its ranking is high. Humana is located in Louisville, Ky. The company’s overall profit has been $250.7 million. It plans to increase its revenue by the end of this year.
