Primary Health Falls After First Half Earnings Miss Estimates

Primary Health Care Ltd. (PRY), Australia’s second-biggest provider of medical tests, fell the most in six months in Sydney trading after announcing first-half results that missed analyst estimates.

Shares declined as much as 7.7 percent to A$2.74, the biggest intra-day fall since Aug. 9. The stock has dropped 9.7 percent this year to trade at A$2.78 as of 12:34 p.m. in Sydney.

The Sydney-based company reported net income for the six months ended Dec. 31 of A$46.3 million. The average estimate of four analysts surveyed by Bloomberg News was A$55.3 million. Earnings before interest, taxes, depreciation and amortization increased to A$166.8 million from A$152.4 million, the company reported.

To contact the reporter on this story: Natasha Khan in Hong Kong at nkhan51@bloomberg.net

To contact the editor responsible for this story: Edward Johnson at ejohnson28@bloomberg.net

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