Australia's Sonic Healthcare tumbles as Covid-era boost fizzles out

Sonic Healthcare

17/08/2023 02:14

** Shares of Sonic Healthcare Ltd  SHL.AX  fall as much as
6% to A$31.93 in their biggest intraday drop since February 2022
    ** SHL among top 10 losers in the ASX 200 benchmark index
 .AXJO 
    ** Current trading level is the lowest since March 3
    ** Co posts FY23 net profit of A$685 mln ($438.61 mln), down
53% from a year earlier
    ** Total revenue down 13% to A$8.17 bln as COVID-related
earnings dissipated
    ** Expects FY24 EBITDA between A$1.7 bln and A$1.8 bln,
compared with A$1.71 bln logged in FY23
    ** SHL up 13.4% this year, as of last close, vs a 2.2%
increase in the ASX 200 benchmark index  .AXJO  

($1 = 1.5618 Australian dollars)

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