(Boursier.com) — Bastide Le Confort Medical rose 0.7% to 20.15 euros this Friday, while the group posted a turnover of 137.1 ME in the second quarter of its 2023-2024 financial year, organic growth of 6.1%. The more technical activities (Respiratory, Nutrition-Perfusion-Stomatherapy), which now represent 60% of the Group’s turnover, continued to drive growth (+10.4% organically). The “Home Support” activity remains stable in a market which has now normalized after the health crisis.
This quarterly performance brings half-yearly turnover to €265 million (+6.2%, including +5.7% organically).
Bastide is still targeting an annual turnover of around 530 ME (adjusted for the impact linked to the sale of Distrimed and excluding new external growth operations) and maintains its objective of a current operating margin at least equal to that achieved on the financial year 2022-2023, or 8.4%.
Debt reduction is the Group’s priority for the 2023-2024 financial year. The recent sale of the company Distrimed fully meets this objective and the Bastide Group continues to study possible transfers of assets which would no longer meet its strategy. Portzamparc believes that H2 was “solid” and constitutes a good crossing point for annual guidance. Enough to validate its scenario which involves an annual turnover of 527 ME, a ROC of 45.1 ME and an MOC of 8.6%. The analyst is targeting a price of 37 euros while remaining a buyer on the issue.
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