Yesterday morning Monash IVF Limited (ASX: MVF) reported its half-year results for the period ending December 31 2018. Below is a summary of the results with comparisons to the prior corresponding half year.
- Statutory net profit of $9.7m, down 19.8%
- Revenue of $77.2m, up 0.3%
- Underlying net profit $10.7m, down 11.3%
- Underlying EBITDA $19.3m, down 7.3%
- Basic earnings per share of 4.1 cents, down 19.9%
- Dividends per share of 3 cents, down 11.8%
- Net debt of $88.4m, down from $94.1m
- Net debt to EBITDA ratio of 2.36x
- Targeting net profit growth more than 15% for H2 FY19 over H2 FY18
The Monash share price rose around 4% despite the falls in profit and dividends on flat revenues as investors were pleased that the group exceed the net profit guidance it provided at its November 2018 AGM.
The IVF business also reported that it grew its market share in all key markets except Victoria and is also planning to grow into the Asia Pacific region.
The stock is down around 45% over the past two years and the business continues to carry a significant amount of debt, with plenty of competition in the sector.
