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Primary Health Declines After Net Income Misses Estimates

Feb. 15 (Bloomberg) -- Primary Health Care Ltd., Australia’s second-biggest provider of medical tests, fell the most in more than six months in Sydney trading after reporting first-half profit that missed analyst estimates.

Primary Health declined 4.7 percent to A$2.83 at the close of trading, the steepest drop since Aug. 5. The stock has tumbled 18 percent in the past 12 months, compared with a 14 percent drop for the benchmark S&P/ASX 200 index.

The Sydney-based company posted net income of A$46.3 million in the six months ended Dec. 31, missing the A$55.3 million average estimate of four analysts surveyed by Bloomberg. Earnings before interest, taxes, depreciation and amortization rose 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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