{"id":6256,"date":"2024-02-23T00:55:32","date_gmt":"2024-02-23T00:55:32","guid":{"rendered":"https:\/\/economicherald.net\/?p=6256"},"modified":"2024-02-23T00:55:32","modified_gmt":"2024-02-23T00:55:32","slug":"asx-health-stocks-rural-vet-stock-apiam-jumps-17pc-on-huge-first-half","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6256","title":{"rendered":"ASX Health Stocks: Rural vet stock Apiam jumps 17pc on huge first half"},"content":{"rendered":"

Apiam surged as high as +27pc this morning
\nCleanspace had a strong first half
\nAVITA Medical\u2019s Q4 revenue also climbed higher<\/p>\n

\u00a0<\/p>\n

Apiam Health jumps much higher after strong H1<\/h2>\n

Rural veterinary business, Apiam Animal Health (ASX:AHX)<\/a><\/strong>, jumped as high as +27% this morning (before retreating to +17%) after reporting strong H1 results.<\/p>\n

For the first half, Apiam recorded resilient revenue growth, accompanied by a strong uplift in earnings.<\/p>\n

Revenue growth was +11.4% to $104.4m vs pcp, and underlying EBITA growth was +32.7% to $9.2m vs pcp.<\/p>\n

The company saw growth across each of its veterinary segments, supported by its recent acquisitions (two acquisitions settled in the first quarter of FY24).<\/p>\n

During the half, initiatives were undertaken to realise greater cost savings. A redundancy and restructuring program was completed in June 2023, and this is forecast to save $2.6 million in FY24.<\/p>\n

Apiam has also transitioned to a new \u201cvet-supported clinic management model.\u201d This model was designed to foster increasingly agile clinic decision making, with the goal of improving margins and organic growth performance over time.<\/p>\n

The Board has reinstated its dividend program, and declared an interim dividend of 1.0 cent per share.<\/p>\n

In terms of outlook,\u00a0Apiam says the primary focus for FY24 is to extract further earnings and cash flows from the existing clinic portfolio, and growing its organic revenue.<\/p>\n

\u00a0<\/p>\n

CleanSpace says it will grown in FY24 and beyond<\/h2>\n

CleanSpace (ASX:CSX)<\/a><\/strong>, the company that manufactures respiratory protection solutions for industrial and healthcare markets, also reported a good first half.<\/p>\n

H1 revenue was $7.3m, a growth of 27% vs pcp. H1 Operating EBITDA was a loss of -$2.5m, which was $3.8m better than the pcp.<\/p>\n

Europe contributed 67% of total revenue, and the company says two new sales leaders recently hired in UK and Germany are expected to support ongoing strong growth.<\/p>\n

For guidance, CleanSpace said it is well positioned to continue sales growth of 30% in H2 FY24 and beyond, in its seven focus markets.<\/p>\n

The US business is expected to operate at breakeven in H2 whilst a growth strategic review is completed.<\/p>\n

\u00a0<\/p>\n

AVITA\u2019s Q4 impresses<\/h2>\n

AVITA Medical (ASX:AVH)<\/a><\/strong> said that for Q4, revenue increased approximately by 50% vs the pcp to $14.1 million.<\/p>\n

Gross profit margin was at 87.3%, compared to 85.8% in the pcp.<\/p>\n

Bottom line net loss was $7.1 million, compared to a net loss of $5.4 million in the pcp.<\/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: Rural vet stock Apiam jumps 17pc on huge first half<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Apiam surged as high as +27pc this morning Cleanspace had a strong first half AVITA Medical\u2019s Q4 revenue also climbed higher \u00a0 Apiam Health jumps [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6257,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Health Stocks: Rural vet stock Apiam jumps 17pc on huge first half - 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=6256\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Health Stocks: Rural vet stock Apiam jumps 17pc on huge first half - 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