Sonic Healthcare Ltd (ASX:SHL) has reported a 13 per cent drop in its first half net profit, and advised that full year profit is expected to fall at the lower end of its earlier guidance range.
In six months to 31 December 2010 the medical services provider posted a net profit of $135 million, coming in under the $155 million booked the same time a year earlier.
Accounting for constant currency terms, net profit came in 7.4 per cent lower while revenue rose 8.3 per cent.
Sonic says it expects its 2011 financial year profit to now rest at the lower end of its 5 to 15 per cent guidance range, due to the regulatory issues in Australian pathology and the impacts of the recent severe weather.
An interim dividend of 24 cents, 28 per cent franked has been declared.
In the year to 30 June 2010 Sonic Healthcare generated a net profit of $293.8 million.
