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Highlights
- Integrated Diagnostics Holdings provides more than 1,000 diagnostic services in three geographic areas of Egypt, Jordan, and Sudan.
- For 2Q 2023, IDHC secured a revenue of EGP 957 million, marking a 24% year-on-year growth and 5% quarter-on-quarter growth.
- The company achieved 40% YoY growth in conventional revenue in the reporting period.
An integrated diagnostics services provider, Integrated Diagnostics Holdings PLC (LSE:IDHC) operates in three geographic areas of Egypt, Jordan, and Sudan. The offerings of the firm include more than 1,000 diagnostic services, be it elementary tests or molecular tests for hepatitis, or specialized deoxyribonucleic acid (DNA) tests. There are around 310 branches of the firm in different cities.
For the second quarter of the fiscal year 2023, IDHC secured a revenue of EGP 957 million, marking a 24% year-on-year growth and 5% quarter-on-quarter growth.
The firm has ended 1H 2023 with approximately 11% YoY increase in Revenue per Patient. It registered around 19% YoY surge in Test per Patient in the first half of the year. There has been growth in the demand for IDHC’s conventional service offering in Egypt and Jordan with test volumes witnessing a 14% and 8% growth, respectively, as compared to 1H 2022. The conventional test volumes of the company saw 13% year-on-year surge to 16.5 million tests in 1H 2023.
Overall, the company achieved 40% YoY conventional revenue growth in the reporting period.
However, IDHC suffered a 52% year-on-year drop in net profit in the first half due to the non-recurring expense of EGP 12 million following major payments to the government’s vocational training in Egypt.
In December 2023, IDHC is planning to launch its operations in Saudi Arabia. The plan is as per the strategic priorities and value-creation strategies of the company.
As per the firm, it is well-placed to achieve its operational and financial targets for 2023, thanks to the positive business momentum of its Jordian and Egyptian subsidiaries.
Top 10 shareholders
Approximately 63.07% of the total shareholding of the company are held by its top ten shareholders. While HENA Holdings, Ltd. holds the maximum number of shares with over 26% shareholding, Actis LLP holds 21% stake in IDHC.
Stock price Performance
IDHC’s stock price has gained 0.01% in the last one month. It has fallen by approximately 10.42% in the last 6 months. The stock’s 52-week low and high price stand at USD 0.35 & USD 0.82, respectively.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 04 October 2023. The reference data in this report has been partly sourced from EODHD/Others.
