Stocks of the Hour: Microba Life Sciences, Laybuy Group, Fisher & Paykel Healthcare

Company News

by Abbey Phillipps

Microba Life Sciences (ASX:MAP) announced that medical diagnostics provider Sonic Healthcare Limited (ASX:SHL) has agreed to invest $17.8m to acquire a 19.99% shareholding in Microba. Microba’s Chief Executive Officer, Dr Luke Reid said, “This strategic partnership with Sonic is set to accelerate international distribution of Microba’s microbiome testing into primary and specialist healthcare.” Shares are trading 47.7 per cent higher at 33 cents.

Laybuy Group (ASX:LBY) today released its Half Year Report for the period ended 30 September 2022. The results show that the company increased its income by 22.1 per cent year-on-year, and remains on track to achieve EBITDA profitability in March 2023. In response, Managing Director Gary Rohloff says, “Our strategy to achieve profitability is delivering results with our normalised losses nearly halving when compared to the same period last year.” Shares are trading 5.7 per cent higher at 6 cents.

Fisher & Paykel Healthcare (ASX:FPH) announces their results for the first half of the 2023 financial year. For the six months ended 30 September 2022, total operating revenue was $690.6 million, above the $670 million guided by the company in its August trading update. Managing Director and CEO Lewis Gradon said, “total group sales of our hospital consumables have increased sequentially on a month-by-month basis since May.” Shares are trading 13.8 per cent higher at $21.84

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