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Sonic Health H1 net profit $83.2m, div 15c

10:35, Thursday, 23 February 2006

 

Sydney - Thursday - February 23: (RWE Aust Business News) - Sonic

Health Care Ltd (ASX:SHL) reported a net profit of $83.2 million for the

half year to December 31 2005, up 29.4pc on the prior corresponding half.

Revenue was up 17.3pc to $788.72 million.

A dividend of 15c, fully franked, will be paid March 20 with

record date March 6.

This compares with a 13c interim dividend in 2004.

Earnings per share was 29.6c against 23.8c previously

 

****

Outlook

The company expects full year revenue of between $1.6bn and

$1.67bn and EBITA of $300m to $320m.

 

*****

Result

Sonic managing director Colin Goldschmidt said noteworthy strong

results from Sonic's large Australian practices - Douglass Hanly Moir

Pathology, Sullivan Nicolaides Pathology, Melbourne Pathology and

Queensland X-Ray contributed to the result.

As well there was a strong performance by Sonic's UK (TDL) and

German (Schottdorf Group) pathology companies.

Dr Goldschmidt said that CPL had integrated smoothly into the

organisation and was already adding substantially to Sonic's financial

profile and international standing.

"The acquisition of CPL is a major strategic step for Sonic,

providing an ideal entry into the world's largest pathology market," he

said.

"Our partnership with CPL in the US will complement our

successful growth strategy in Europe, as we expand our footprint in

international markets."

Sonic shares were down 10c to $14.95.

ENDS

 

Copyright ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚© 2006 RWE Australian Business News. All rights reserved.

 

 

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from Aegis

 

Sonic Healthcare (SHL) - 1H FY06 Result: Another healthy performance from Sonic

SHL has reported revenue of $$789M in 1H06, up 17% on 1H05 (organic growth was 7%). EBITA margin expansion by 0.7 percentage points helped EBITA climbed 22% to $147M, while NPAT surged 29% on pcp to $83M. Cashflow from operations increased 24% to $120M. SHL has declared a FF interim dividend of 15 cps, up 15% on 1H05. All geographical regions performed well. SHL continues to deliver excellent results time after time, and the company remains on the prowl internationally for acquisitions.

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  • 1 month later...

QUOTE (wolverine @ Thursday 23/02/06 09:23pm)

After breaking from a 5 month ascending triangle, SHL has pulled back and retested the break and looking ready to move on again,...intial suggested projected target of around $16.80.

 

Cheers

 

Chart as of 12:25

post-16-1143163770.gif

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from Aegis (target $15.78)

 

Investment Opinion

We believe SHL's international growth prospects will continue to drive double digit revenue and earnings growth for the foreseeable future, justifying the company's solid P/E multiples. We retain our BUY recommendation on this first class diagnostics company.

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Been waiting on an update since Healthscope picked up contracts in NZ, some number crunching after reporting, 22 Aug and possibly revised recommendations.

 

Always had shocking timing http://www.sharescene.com/html/emoticons/mad.gif

varmi

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26c/share ff dividend http://www.sharescene.com/html/emoticons/wink.gif

 

SMH

 

Sonic expects 10% EPS growth in FY07

August 22, 2006 - 12:39PM

 

Pathology and radiology company Sonic Healthcare Ltd expects earnings per share (EPS) to grow by 10 per cent this financial year and says it is well advanced in talks with potential acquisition targets in North America and Europe.

 

Sonic reported a record net profit of $172.03 million for 2005/06, up 27.1 per cent.

 

For fiscal 2007, the medical group forecast EPS growth of 10 per cent, organic growth of five per cent and revenue growth of nine per cent, driven by the company's core pathology laboratories in Australia, the United States, the United Kingdom and Germany.

 

In 2005/06, diluted EPS grew 20 per cent to 58.6 cents per share.

 

The forecasts take into account a full year's contribution from US pathology firm Clinical Pathology Laboratories (CPL), in which Sonic acquired an 82 per cent stake last August for $US300 million.

 

Sonic chief executive Colin Goldschmidt said Sonic had delivered its eleventh straight year of double-digit EPS growth and was poised for significant expansion in North America and Europe.

 

"We are currently well advanced in discussions with acquisition targets both in North America and Europe, and we're certainly expecting that our growth will be fuelled by the announcement and completion of acquisitions in the northern hemisphere as we go forward," he said.

 

"On that basis, I'm pretty confident in saying that Sonic is well set to continue the growth that it has achieved over the past 10 years-plus."

 

Sonic had just agreed to acquire a small US pathology laboratory with revenue of around $A10 million.

 

Dr Goldschmidt said the Australian pathology business was performing strongly, and operations in the northern hemisphere were tracking well.

 

He said "a slight blemish" in the results was that costs and margins had been under pressure in the radiology business as a result of higher wages flowing from a worldwide shortage of radiologists and radiology technicians.

 

But Sonic was confident of improving its performance through new incentive schemes for radiologists and digital imaging products.

 

The other negative factor in Sonic's results was that the New Zealand pathology operations had low revenue growth rates which had affected margins.

 

Dr Goldschmidt said Sonic had launched legal action in relation to the loss of a pathology contract by Sonic's Diagnostic Medlab (DML) laboratory in Auckland, New Zealand, and a hearing was set down for November 2006.

 

Group revenue rose 20 per cent to $1.66 billion in the year to June 30, 2006, while earnings before interest, tax and amortisation (EBITA) grew 21 per cent to $306 million.

 

The company declared a final dividend of 26 cents per share, fully franked, bringing total dividends for the year to 41 cents per share, up 14 per cent.

 

 

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Fists up...

 

Dr Goldschmidt said Sonic had launched legal action in relation to the loss of a pathology contract by Sonic's Diagnostic Medlab (DML) laboratory in Auckland, New Zealand, and a hearing was set down for November 2006.

 

 

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