Sonic Healthcare shares dropped sharply after the company issued a profit warning on a decline in its pathology business.
Sonic says 2015 financial year earnings will be about 3% to 4% below guidance at $730 million.
The company says it’s seen lower than anticipated volumes in recent months and a more significant impact than previously thought from changes to fees under the Medicare Benefits Schedule.
However, 2016 earnings are expected to be between $850 million and $875 million, up about 20% on 2015.
Sonic shares are down more than 4% to $20.94.