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With 37% return in one year, can Nanosonics Limited (ASX NAN) deliver on FY23 guidance?

Wed 28 Jun 23, 09:20 AM | Team Kalkine

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Shares of medical device company Nanosonics Limited (ASX: NAN) have rallied nearly 37% in the last one year, outperforming the ASX benchmark S&P/ASX200 index, which has risen 7.41% in the same time frame. The outperformance of NAN shares has probably been supported by its earnings growth and guidance for FY23.

For the uninitiated, Nanosonics Limited delivers innovative solutions to prevent the transmission of potentially life-altering infections. With global operations, the ASX-listed infection prevention company manufactures and distributes ultrasound probe disinfectors and associated consumables and accessories.

For 1HFY23 ending 31 December 2022, the company reported a revenue of AUD 81.6 million, which was 34.7%higher than the revenue of AUD 60.6 million reported in 1HFY22. Meanwhile, its net profit surged by 166.7% annually to AUD 10.4 million in 1HFY23.

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