Sonic Healthcare (ASX:SHL) withdraws guidance for FY20

Company News

by Rachael Jones

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$23.650 $0.637 2.77%
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Last Updated: 30/03/2020 2:28 PM

Sonic Healthcare (ASX:SHL) is withdrawing its earnings guidance for FY 2020 due to the level of uncertainty resulting from the COVID-19 pandemic.

After 8.5 months, Sonic’s trading results are consistent with the earnings guidance previously provided, however as populations in Sonic’s markets self-isolate or are quarantined there is potential for diagnostic testing volumes to be impacted in the short to medium term.

Their laboratories in Australia, the USA and Europe are testing thousands of patients every day for COVID19, and they continue to increase testing capacity.

Management said the group's balance sheet is in good shape to ride out the crisis with more than $1 billion in cash and debt facilities available.

Shares in Sonic Healthcare (ASX:SHL) are trading 9.48 per cent lower at $22.43
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.