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Highlights
- Integral Diagnostics offers medical imaging services across New Zealand and Australia
- In 1HFY24, the company reported 7.2% YoY increase in its total revenue to AUD 231.3 million
- Yarra Funds Management has maximum stake in IDX with a shareholding of around 8.72%
Integral Diagnostics Limited (ASX:IDX) is an ASX-listed healthcare company which offers healthcare equipment and services. The company is engaged in providing diagnostic image services to allied health professionals, medical specialists, general practitioners and patients.
In the first half of the financial year 2024 (1HFY24), the company saw nearly 7.2% YoY rise in its revenue to AUD 231.3 million driven by an increase in Medicare indexation. During the stated period, operating EBITDA of IDX jumped around 8% YoY to AUD 43.2 million, backed by topline growth during the period. Operating EBITA in 1HFY24 grew by 7.9% YoY to AUD 21.2 million.
In 1HFY24, operating NPAT dropped by 5.13% YoY to AUD 7.40 million. The fall was driven by increased interest rates and continued price rises.
Top 10 shareholders of TAH
The top 10 shareholders of TAH have around 34.04% shareholding in the company, while the top four have around 23.47% shareholding. Yarra Funds Management Limited. and Perennial Value Management Ltd. have the highest stake in IDX with a shareholding of 8.72% and 5.02%, respectively.
Recent business update
On 20 February 2024, the company notified that 12,166 performance rights expired as the conditions required for the exercise of the rights were not met.
Through an ASX-update dated 20 February 2024, the company declared a dividend of AUD 0.025 per share. The ex-dividend date for the above dividend was 29 February 2024, record date was 1 March 2024 and pay date is 2 April 2024.
Outlook
In FY24, the focus will be on strategic acquisitions and business expansion while improving profit margins simultaneously. The company is expected to invest AUD 30 million to AUD 40 million in replacement and growth capital expenditure in FY24.
The company intends to improve its trading performance in the existing half and deliver an operating profit margin that matches or surpasses the 20.2% margin achieved in 1HFY23.
Share performance of IDX
IDX shares closed 3.59% lower at AUD 2.15 apiece on 18 Mrach 2024. With this, in the past one year, IDX’s share price has decreased by nearly 26.12%, while in the last three months, it has surged by 12.57%.
The 52-week high of IDX is AUD 3.54, recorded on 9 June 023, and the 52-week low is AUD 1.64, recorded on 23 November 2023.
IDX Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 18 March 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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