Australian Clinical Labs hits record low on narrowing H2 guidance

Australian Clinical Labs

28/02/2024 03:25

** Shares of Australian Clinical Labs  ACL.AX  fall as much
as 13.4% to a record low of A$2.26
    ** Stock posts its biggest intraday pct fall since August
2023
    ** Pathology service provider sees H2 FY24 underlying EBIT
margin returning to low double-digits in A$60 mln-A$65 mln range
    ** Adds management is taking conservative approach to
anticipated growth in H2 FY24
    ** Reports HY statutory profit attributable of A$5.0 mln
($3.3 mln), down 80.5% YoY
    ** Adds HY total revenue of A$337.8 mln vs A$366.5 mln in
the prior corresponding period (PCP)
    ** Declares interim dividend of 3.0 AU cents per share vs
7.0 AU cents per share in PCP
    ** Around 1.8 mln shares change hands as of 0258 GMT, vs
30-day average volume of 446,699 shares
    ** Stock down 9.7% YTD, as of last close

($1 = 1.5316 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))