The National Roads & Motorists’ Association has recorded a $67.4 million net profit after tax, an 81% increase on last year’s result and the second largest profit since the split of the motoring and insurance arms in 2000.
The member-owned mutual company recorded an operating profit before change in fair value of investments of $41.6 million, a 71% increase on last year.
Membership grew to more than 2.4 million and roadside assistance subscriptions have grown to 2.7 million.
CEO Tony Stuart says result was achieved despite growing competition in roadside assistance, travel, car servicing and rentals.
NRMA is now operating in nine countries with its Club Assist with annual revenues of $250 million.