{"id":6071,"date":"2024-02-20T01:22:20","date_gmt":"2024-02-20T01:22:20","guid":{"rendered":"https:\/\/economicherald.net\/?p=6071"},"modified":"2024-02-20T01:22:20","modified_gmt":"2024-02-20T01:22:20","slug":"asx-health-stocks-sonic-slumps-after-h1-profits-fall-47pc-ceo-says-dont-worry-were-back-to-normal-now","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6071","title":{"rendered":"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now"},"content":{"rendered":"

Sonic Healthcare\u2019s shares dumped after profits decline by half
\nSingular Health retains ISO certificate<\/p>\n

\u00a0<\/p>\n

Sonic\u2019s awful first half<\/h2>\n

Shares in Australia\u2019s second biggest healthcare company, Sonic Healthcare (ASX:SHL)<\/a><\/strong>, were dumped today after its H1 profits came in -47% lower.<\/p>\n

Sonic is an internationally renowned healthcare provider with specialist operations in laboratory pathology, radiology, general practice medicine and corporate medical services.<\/p>\n

The company sits second behind CSL (ASX:CSL)<\/a>\u00a0on the the ASX\u2019s biggest healthcare stocks list.<\/p>\n

According to its filing today, total revenue for the half came in at $4.3 billion, up 5% on the pcp.<\/p>\n

However, half year bottom lines EBITDA and Net Profit sank.<\/p>\n

EBITDA declined by -20% to $737m, while net profit tumbled by -47% to $202m.<\/p>\n

Sonic says the decline in profit was due to the company returning to normal business from the Covid era revenue.<\/p>\n

\u201c2024 financial year is one of transition for Sonic Healthcare, as the impacts on our business of the COVID pandemic dissipate, and we return to normal business,\u201d said Sonic CEO, Dr Colin Goldschmidt.<\/em><\/p>\n

\u201cWhilst our headline numbers for the half-year show significantly lower earnings versus the comparative period, this is the result of having 90% less COVID-related revenue in the current period.\u201d<\/p>\n

Sonic paid an interim dividend up 2.4% to 43 cents per share.<\/p>\n

SHL\u2019s shares were trading -8% lower this morning.<\/p>\n

\u00a0<\/p>\n

Singular retains ISO certificate<\/h2>\n

Medtech company, Singular Health Group (ASX:SHG)<\/a><\/strong>, \u00a0says it has been notified of the successful re-issuance of a ISO13485:2016 Certificate<\/strong>.<\/p>\n

The re-issuance demonstrates Singular\u2019s continued adherence to the best global standards for quality assurance and medical device development.<\/p>\n

Retaining the certificate means the company is in compliance with regulatory and quality requirements of Health Canada, the Therapeutic Goods Administration (Australia), and USA\u2019s Food and Drug Agency through the Medical Device Single Audit Program (MDSAP).<\/em><\/p>\n

The approval was also given after a successful site verification and surveillance audit results of its Bibra Lake address in WA as a Medical Device Establishment.<\/p>\n

The ISO13485 is the primary standard certificate for medical device development, and has been globally adopted by almost all leading medical device regulatory bodies as a prerequisite for the registration of Class II and higher medical devices.<\/p>\n

The SHG share price dropped by -8% this morning.<\/p>\n

\u00a0<\/p>\n

Share prices today:<\/h2>\n

\u00a0<\/p>\n\n

\ufeff<\/span><\/span>\u00a0
\n<\/span><\/p>\n

The post ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Sonic Healthcare\u2019s shares dumped after profits decline by half Singular Health retains ISO certificate \u00a0 Sonic\u2019s awful first half Shares in Australia\u2019s second biggest healthcare [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6072,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=6071\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Sonic Healthcare\u2019s shares dumped after profits decline by half Singular Health retains ISO certificate \u00a0 Sonic\u2019s awful first half Shares in Australia\u2019s second biggest healthcare [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=6071\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-20T01:22:20+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now\",\"datePublished\":\"2024-02-20T01:22:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071\"},\"wordCount\":425,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=6071\",\"name\":\"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg\",\"datePublished\":\"2024-02-20T01:22:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=6071\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6071#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=6071","og_locale":"en_US","og_type":"article","og_title":"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now - Economic Herald","og_description":"Sonic Healthcare\u2019s shares dumped after profits decline by half Singular Health retains ISO certificate \u00a0 Sonic\u2019s awful first half Shares in Australia\u2019s second biggest healthcare [more...]","og_url":"https:\/\/economicherald.net\/?p=6071","og_site_name":"Economic Herald","article_published_time":"2024-02-20T01:22:20+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=6071#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=6071"},"author":{"name":"","@id":""},"headline":"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now","datePublished":"2024-02-20T01:22:20+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=6071"},"wordCount":425,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=6071#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/02\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=6071","url":"https:\/\/economicherald.net\/?p=6071","name":"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=6071#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=6071#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/02\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg","datePublished":"2024-02-20T01:22:20+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=6071#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=6071"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=6071#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/02\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/02\/Sonics-shares-slump-after-a-big-profit-decline.-Picture-Getty-jjkNAD.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=6071#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"ASX Health Stocks: Sonic slumps after H1 profits fall 47pc. CEO says don\u2019t worry, we\u2019re back to normal now"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/6071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6071"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/6071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/6072"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}