ASX Shares to Buy Sonic Healthcare (SHL)

ASX stock Sonic Healthcare (SHL) is an international medical diagnostics company, providing laboratory, medicine/pathology and radiology services.

Sonic Healthcare (SHL) today reported its FY10 results, keeping the market happy.

SHL recorded a 71% rise in net profit on the prior year to $293.2 million. The prior-year net profit result was impacted by writedowns.

Revenue of $2.99 billion compared with $3.01 billion previously, while underlying earnings rose 28% on year to $544 million on a constant currency basis.

SHL said it was a strong result, despite 2H10 difficulties due to regulatory changes affecting the Australian pathology industry.

These impacts were mitigated by SHL’s increasingly diversified operations, with over 60% of revenue sourced from outside Australia.

SHL declared a final dividend of 35 cents per shares, steady on year.

On a constant currency basis, SHL expects net profit for FY11 to climb by 5%-15%.

Australian stock price for SHL finished the yesterday’s session up 3.6% to $10.80.