Integral Diagnostics (ASX:IDX) share price lifts on strong half-year results

The Integral Diagnostics share price is up today after the company reported strong half-year results. Here’s a closer look.

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The Integral Diagnostics Ltd (ASX: IDX) share price is on the rise today after the company announced its results for the six months ended 31 December 2020 (1H FY21).

The radiology provider reported growth across all of its business units as well as through acquisitions. The Integral Diagnostics share price is presently up 3.63%, trading at $4.85.

What’s moving the Integral Diagnostics share price today?

The Integral Diagnostics share price is on the rise as investors digest its latest set of results. The company reported operating revenue of $170.7 million for 1H FY21. This is a 29.5% increase compared to the $131.8 million reported for 1H FY20.

Operating earnings before interest, tax, depreciation and amortisation (EBITDA) was $52 million for 1H FY21 compared to $34.6 million for 1H FY20, a 50.3% leap.

Integral Diagnostics reported a statutory net profit after taxes (NPAT) of $19.9 million for 1H FY21, which is an 82.6% hike from the $10.9 million reported in the prior corresponding period.

Free cash flow also fired up 70.2% compared to 1H FY20, totalling $42.7 million for the period.

The board has declared a first half fully franked dividend of 5.5 cents per share.

CEO comments

Commented on the company’s half-year performance, CEO and managing director Dr Ian Kadish stated:

These strong results in a challenging period were made possible by some of the finest doctors and staff in the industry, frontline healthcare workers who always put our patients and referrers first. The results reflect organic growth above market, and solid contributions from our acquisitions of Imaging Queensland and Ascot Radiology. We are also pleased with the performance of our new teleradiology service, IDXt, and the potential of our JV, MedX, with the Medica Group Plc, one of the world’s premier teleradiology providers.

Looking ahead, the company advised that it will evaluate further acquisitions and continue to drive organic growth. Other priorities include progressing the use of digital and artificial intelligence (AI) technologies to support its customer base.

Integral Diagnostics shares have gained 19.39% over the previous six months. Year-to-date, the Integral Diagnostics share price has jumped 7.83%.

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Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Integral Diagnostics Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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