Sonic Healthcare: Interim result 2013

Revenue growth in Australia and Germany was offset by a weak performance in the US. Still, Sonic remains a stable, above-average business.

Sonic Healthcare managed to increase profit by 9% to $155m in the six months to 31 December, from revenue that increased 6% to $1,733m, but the share price fell 9% on the news. Such is the consequence of missing guidance. Management also ratcheted down full-year earnings growth expectations to the lower end of ‘5% to 10%'. A slightly higher 25 cent per share dividend was declared (45% franked, ex date 1 February) from earnings per share of 39.5 cents.

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