Integral Diagnostics (ASX:IDX) posts solid earnings in FY21

Integral Diagnostics (ASX: IDX) reported revenue of $350.9 million for the year ending 30 Jun 2021 (FY21), up 27.2 per cent from the prior year. 

The radiologist and diagnostic imaging provider reported its earnings before interest, tax, depreciation and amortisation of  $88.9 million, up 28.5 per cent from the prior year. 

Amid a rise in earnings, statutory net profit after tax reached $31.3 million, up 35.8 per cent from the prior year. 

These results come off the back of solid organic growth in Australia and NZ, despite ongoing cost pressures, an additional four-month contribution from Imaging Queensland and a ten-month contribution from Ascot Radiology. 

The average fee per exam increased by 3.3 per cent in Australia driven by the continuing move to higher end modalities and Medicare indexation being applied to CT, ultrasound and x-ray modalities.

A fully franked final dividend of $7.0 cents per share was recorded and to be paid on Oct 6 2021. 

CEO Dr Ian Kadish said, “Covid-19 outbreaks and associated government lockdowns and border closures all took a toll, team morale was impacted, but the professionalism, dedication and commitment of our doctors and staff has been inspiring.” 

The company expect Covid-19 to continue to impact FY22, although they plan increase its focus on organic growth and accelerate digital and AI technologies.

Shares in Integral Diagnostics (ASX:IDX are trading 7.04 per cent lower at $5.01. 
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