DiaSorin raises 2024 guidance slightly following Q2 results
Adds revenue and adj. core profit in paragraph 3-4, shares movement in 5
July 29 (Reuters) -Italian medical diagnostics group DiaSorin DIAS.MI raised its guidance slightly for 2024 after reporting on Monday a 9% rise in second-quarter adjusted core profit.
The company said it now expects revenue growth this year of between 6%-7% compared to previous guidance of 5%-7% growth, and sees its 2024 adjusted core profit margin at about 33% compared to a previous margin set at 32%-33%.
Its shares were trading down 2.4% at 101.85 euro by 1440 GMT but have risen around 10% this year.
Second quarter adjusted core profit totalled 102 million euros ($110.23 million), the company said.
The profit results do not include the company's revenue from its COVID-related diagnostics, which accounted for around 5 million euros in the second quarter.
Revenue net of COVID business rose 7% in the second quarter at constant exchange rates to 295 million euros mainly thanks to a good performance by its immunodiagnostic and molecular diagnostic businesses, it said.
Its adjusted core profit margin was 34% in the second quarter
($1 = 0.9253 euros)
Reporting by Alberto Chiumento; Editing by Susan Fenton
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