Bupa, the international healthcare group, said reported a 2011 surplus before tax of £559m, up 20% on the year before.
The firm said the result was driven by performances in Australia and Asia, with total customer numbers growing 3% to 10.84m over the course of the year.
In its international markets, which include Australia and Latin America, revenues were up 14% to £3.9bn.
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This compared with a weaker performance in Europe and the US where revenues fell 2% to £2.9bn.
Bupa said the UK and Spanish economies in particular remained challenging with high unemployment levels and severe public funding pressures.
"These economic conditions may impact the group's trading performance in Bupa's insurance and aged care businesses," the firm said.
Chief Executive Ray King, said he expected Bupa to grow revenues and surplus in 2012 despite the challenging conditions in the UK and Spain.
"We will continue to grow by deepening our presence in our established markets and seeking to differentiate Bupa as a healthcare partner to our customers, while investing to grow in new markets including Asia and Latin America," he said.
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