The Healius Ltd (former Primary Health Care) (ASX: HLS) share price is up 5.4% to $2.98 today after the healthcare provider posted a net profit of $93.2 million on revenue of $1,804 million for the year ending June 30, 2019. The underlying profit and revenue are up 5.9% and 6.5% respectively on the prior corresponding period.
CEO Dr Malcolm Parmenter said: “The increasingly positive momentum across all divisions is an encouraging validation of our strategy to refresh and renew our Medical Centres and invest in leading‐edge infrastructure and emerging businesses. Pathology delivered a very strong result in the second half and Imaging recorded its third year of strong increases.”
Over the period net debt fell from $777 million to $678 million with free cash flow of $76 million. Given the balance sheet and need to invest the final dividend fell to 3.4 cents to take full year dividends to 7.2 cents plus full franking credits. Underlying earnings per share came in at 15.4 cents to put the stock on 19x FY 2019’s earnings at $2.98 this afternoon.
Other stocks in the healthcare sector performing well include Cochlear Ltd (ASX: COH) and CSL Limited (ASX: CSL).
A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming. To the tune of an estimated $US22 billion.
Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.
Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.
AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.
Simply click below to learn more on how you can profit from the coming cannabis boom.
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- Top analysts name their top 3 ASX blue chip shares for 2019
- Richest man alive issues dire warning
- 3 quality dividend shares to boost your income
Tom Richardson owns shares of Cochlear Ltd. and CSL Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. and CSL Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019