Pro Medicus Boosts First-Half Revenue to $28M
Pro Medicus, a notable player in the medical imaging sector, has experienced a substantial increase in its first-half revenue, reporting $28.2 million year-on-year growth. For the first half of the year, the company’s total revenue reached $128.9 million, slightly below the market expectations of $131.8 million.
Financial Highlights
Pro Medicus disclosed impressive financial results for the half-year period:
- Revenue: $128.9 million
- Year-on-Year Revenue Increase: $28.2 million
- Half-Year After Tax Profit: Triplied to $171.2 million
- Average Forecast for After Tax Profit: $72.2 million
- Underlying Profit Growth: 29.7% to $90.7 million
- Fully Franked Interim Dividend: 32 cents per share, up from 25 cents a year earlier
- Consensus Dividend Estimates: 35 cents per share
Investment in 4D Medical
During this period, Pro Medicus made significant strategic decisions. It announced a $10 million hybrid investment in ASX-listed 4D Medical, combining both debt and equity. The debt portion carries a 12.5% annual coupon rate. If the share price exceeds 48 cents, this investment could lead to a $20 million payout.
Business Development
Pro Medicus has been proactive in expanding its business, securing seven new contracts throughout the reporting period. This growth reflects the company’s commitment to enhancing its service offerings in the medical imaging space.
Overall, while Pro Medicus achieved notable financial success, its revenue figures fell short of analyst predictions. The company’s strategic investments and contract acquisitions highlight a strong forward momentum in a competitive industry.
