SHL was the second-best-performing stock into the close, finishing the session up ~7%. Today’s well-received AGM saw the board cite growth in its base business and its expanding global footprint across seven countries. The company reported $9 billion in revenue for FY24, though net profit fell to $511mn due to the anticipated drop in COVID-19 testing revenues. Revenue growth is tracking 8% above 1H consensus, the business sees a circa ~10% uplift in earnings growth in a constant FX scenario, and reaffirmed EBITDA guidance of A$1.7-A$1.75bn for FY25.
- We like the look of SHL as a recovery healthcare play, a dangerous playground of late.
MM likes SHL ~$28
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