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.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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%.

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.

More on Share Market News

Broker looking at the share price.
Share Market News

5 things to watch on the ASX 200 on Tuesday

Here's what to expect on the local market today.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Broker Notes

Down 16% in 6 weeks: Is this ASX 200 share a bargain buy?

Bell Potter has given its verdict on this beaten down stock.

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 enjoyed a strong start to the trading week today.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

A young woman sits at her desk in deep contemplation with her hand to her chin while seriously considering information she is reading on her laptop

1 ASX 200 dividend stock down 20% to buy right now

This beaten-up ASX share could be a top pick for dividends and stability.

Read more »

Man sitting in a plane looking through a window and working on a laptop.

2 cheap ASX 200 shares I'd buy in May

I think these stocks are too cheap to ignore.

Read more »

Smiling couple looking at a phone at a bargain opportunity.
Share Gainers

Why Gentrack, New Hope, Nuix, and Star Entertainment shares are charging higher

These shares are starting the week strongly. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Core Lithium, Duratec, Galan Lithium, and Michael Hill shares are sinking today

These shares are starting the week in the red. But why?

Read more »