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Highlights

  • IDHC’s FY23 revenue rose 14.4% due to higher test volumes and increased revenue per patient
  • In Q1 FY24, IDHC’s revenue surged 28% YoY, with a 139% increase in net profit
  • IDHC expects double-digit revenue growth in 2024, propelled by higher volumes and prices

Integrated Diagnostics Holdings PLC (LSE: IDHC) offers integrated diagnostics services in Egypt, Jordan, and Sudan. The company operates across these three geographic regions. It has a market capitalization of GBP 133.99mn.

In FY23, IDHC experienced a revenue increase of approximately 14.4% compared to FY22, largely due to a rise in test volumes. Adjusted EBITDA and revenue per patient grew by around 1.7% and 17.2%, respectively. However, EBITDA was negatively affected by reduced gross profitability and higher SG&A expenses. Additionally, tests per patient rose by 13.5%.

Further, the company had a higher current ratio of 1.51x and a lower debt-equity ratio of 0.48x in Q1 FY24, compared to the industry median of 0.83x and 1.00x, respectively.

Recent Business Update

According to the company's Q1 FY24 results, its top-line business saw a substantial increase of approximately 28% year-on-year, driven by higher test volumes and an improved average revenue per test. In addition, IDHC achieved a remarkable 139% growth in net profitto GBP 402 million in the same period. The company's expansion was also notable, with its branch network growing to 587 locations by the end of Q1 FY24.

Company outlook

Despite facing challenges in some regions, IDHC remains dedicated to providing high-quality healthcare services and sustaining its financial performance across its diverse operations. Looking ahead, the company anticipates continued normalization of margins throughout 2024. Overall, IDHC aims for double-digit revenue growth, driven by a combination of increased volumes and higher prices.

Top 10 shareholders

IDHC’s top ten shareholders collectively form around 69.78% of the total shareholdings in the company. HENA Holdings, Ltd. holds the maximum number of shares with approximately 27.07% shareholding. It is followed by Actis LLP with around 21.00% shareholding, as depicted in the chart below: 

Stock performance

Over the past month, IDHC's share price has increased by approximately 0.56%. However, in the last six months, it has decreased by around 14.22%. The stock's 52-week range is from a low of GBX 770.00 to a high of GBX 1,230.00, and it is currently trading below the average of this range.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 24 July 2024. The reference data in this report has been partly sourced from EODHD/Others.