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On 20 February 2019, Sonic Healthcare Limited (ASX:SHL) released its half-year results for FY 2019. For the half-year period, Sonic Healthcare has reported Revenue growth of 9% and Organic revenue growth of 4.5% (constant currency) as compared to the previous corresponding period (pcp). The net profit of the company grew by 7% to A$223 million in H1 FY19 with Earnings per share increasing by 5% to 51.9 cents. Following the release of results, the share price of the company increased by 3.36% as on 20 February 2019.
While commenting on the half-year result, the companyâs CEO, Dr Colin Goldschmidt told that the company has performed well during the half-year, with its US, Swiss and Australian laboratory operations achieving particularly strong earnings growth.Â
He further informed that the revenue of the companyâs US business grew 8% organically in the half-year period, which is well above market. The US business revenue was driven in part by the success of the companyâs hospital laboratory joint ventures and early wins from its billing system enhancement project.
Recently in January 2019, the company completed the acquisition of Aurora Diagnostics which added 32 anatomical pathology practices and 220 pathologists to the companyâs US operations. The companyâs global success to date has been driven by its Medical Leadership culture which, among other important tenets, recognizes that pathologists are the natural leaders within laboratories.
The company is looking forward to working with Auroraâs management and pathologists to grow and enrich both the anatomical pathology and clinical laboratory operations of our expanded US business.
Before the Aurora Diagnostics acquisition, the company was expecting EBITDA growth of 3-5% on underlying FY 2018 EBITDA of A$962 million. After the acquisition of Aurora Diagnostics, the company is expecting EBITDA growth of 6-8% on underlying FY 2018 EBITDA of A$962 million (constant currency). As per the Upgraded FY 2019, the company is expecting the Interest expense to be around FY 2018 level of A$75 million.
Recently the Board declared Interim dividend of 0.33 cents per share (20% franked), representing growth of 3.1% over H1 FY 2018 dividend. The interim dividend is having a record date of 11 March 2019 and payment date of 26 March 2019.
Now, let us have a quick look at Sonic Healthcare Limitedâs stock performance and the return it has posted over the last few months. The stock last traded at a price of $24.300, down by 3.36% during the dayâs trade with a market capitalization of ~$11.14 billion. The counter opened the day at $23.820, reached the dayâs high of $24.525 and touched the dayâs low of $23.540 with a daily volume of ~1,910,333. The stock has provided a Year Till Date return of 7.84%. It had a 52-week high price of $27.000 and touched 52 weeks low of $21.260, with an average volume of ~1,490,250.
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