Australia's Sigma Healthcare falls on regulator delaying merger decision, profit miss

Sigma Healthcare

25/09/2024 04:00

(Updates)
    ** Shares of Sigma Healthcare  SIG.AX  fall as much as 6.3%
to A$1.330, marking its biggest intraday pct drop since mid-June
    ** SIG, pharmaceutical wholesaler, among top losers in the
ASX200 benchmark index  .AXJO , which is trading slightly higher
as of 0253 GMT
    ** Second-biggest loser in the ASX 200 Healthcare sub-index
 .AXHJ 
    ** Australia's competition watchdog further delays
indicative date for a final decision on an A$8.8 bln merger with
privately-owned pharmacy and retail chain Chemist Warehouse
Group
    ** ACCC in June raised major competition concerns over
Sigma-Chemist merger; ACCC's findings now expected on October 24
    ** SIG reports HY statutory net profit attributable of A$3.7
mln ($2.55 mln), 66.9% decline from last year
    ** Underlying NPAT at A$13.7 mln, a fourfold jump from last
year, but below Visible Alpha consensus of A$16.6 mln
    ** Stock up more than 36% this year, including session's
moves, outpacing a 4% rise in the healthcare sub-index


($1 = 1.4497 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))