Australia's Integral Diagnostics posts record drop on high costs outlook

Integral Diagnostics

03/11/2023 01:14

** Shares of medical imaging services firm Integral
Diagnostics  IDX.AX  tank as much as 30.4% to A$1.845, their
biggest-ever intraday drop
    ** IDX trades at its lowest level since March 2020
    ** IDX worst loser in the ASX All Ordinaries index  .AORD 
    ** About one million shares change hands, vs the 30-day
average of 260,452 shares
    ** Says cost inflation continued into FY24, driving labour
costs to be higher-than-expected, impacting operating earnings
    ** Operating EBITDA margin improvement in 1Q24 below 1H23
    ** Expects finance costs of about A$22 mln ($14.13 mln) in
FY24, vs A$18.4 mln a year ago
    ** FY24 depreciation expense outlook of A$45 mln vs A$25.5
mln a year ago
    ** IDX down 9.6% this year, as of last close


($1 = 1.5571 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))