Sonic Healthcare Ltd Currency exchange rate movements in H1 FY17 affected the top line
Currency exchange rate movements in H1 FY17 affected the top line: Sonic Healthcare Ltd (ASX: SHL) has reported the revenue growth of 5% in the first half of 2017 and underlying EBITDA growth of 5.5% on a constant currency basis. However, the statutory result was affected by the currency exchange rate movements. Moreover, the Australian Laboratory business was impacted by the specimen collection infrastructure costs, while the imaging earnings was impacted by low market revenue growth. Medical Centre business was impacted by the Medicare fee indexation freeze for general practice implemented by the Government. Additionally, SHL expects FY17 EBITDA growth of approximately 5% on a Constant Currency basis (applying constant currency FY 2016 FX rates) over the FY 2016 underlying EBITDA of A$876M, excluding the acquisitions in the period. In addition, SHL has announced accretive acquisitions in Germany and the USA and hospital partnerships in the USA.
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