Australia's Monash IVF slumps as class action settlement dents statutory profit

Monash IVF

22/08/2024 01:38

** Shares of Australia's fertility services provider Monash
IVF Ltd  MVF.AX  plunge as much as 7.8% to A$1.305, set for
their worst day since mid-June 2022, if losses hold 
    ** MVF stock top loser in the ASX All Ordinaries index
 .AORD , and trading at its lowest level since July 24
    ** MVF reports FY24 statutory loss after tax of A$5.9 mln
($3.98 mln) against Visible Alpha consensus of A$27.6 mln profit
    ** Underlying profit A$29.9 mln meets consensus estimates
    ** Co says it settled class action regarding group's genetic
screening technology; will have to pay A$36.1 mln from its cash
reserves and debt to settle
    ** Adds that it expects revenue, underlying NPAT growth in
FY25 vs FY24
    ** MVF up 8.9% so far this year, as of last close


($1 = 1.4821 Australian dollars)

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