BUZZ-Australia's Healius drops on bigger-than-expected half-year loss

Reuters
Feb 18
BUZZ-Australia's Healius drops on bigger-than-expected half-year loss 

** Shares of Australia's Healius HLS.AX fall 11.4% to A$0.723, their lowest since late August

** Healthcare co posts half-year underlying loss after tax of A$11 million ($7.77 million),

** HY loss is smaller than the loss recorded a year earlier, but misses the VA consensus estimate of A$2.2 mln

** Jarden notes that although cost reductions have offset corporate costs at face value, it appears to have been swapped out with a step up in one-off termination costs of A$20.8 mln

** This is well above the brokerage's expectations after co indicated earlier that there would be no further restructuring costs

** However, Jarden notes Agilex segment performed better, helped by closure of loss-making toxicology business

** Jefferies notes pathology revenue and EBITDA margins increased in HY

** YTD, shares down 13.2%

($1 = 1.4150 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))

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