Australia's Sonic net profit rises 24 percent

MELBOURNE, Aug 21 (Reuters) - Australia's Sonic Healthcare Ltd (SHL.AX) reported a 24 percent rise in full-year net profit, driven by strong revenues from medical testing and by acquisitions.

Sonic, Australia's top medical testing group which provides laboratory and radiology services to medical practitioners and hospitals, posted a net profit of A$245 million ($213 million) for the year to June 30, compared with A$198 million a year earlier.

Ten analysts had on average expected a profit of A$243 million, according to Reuters Estimates.

Revenue was A$2.38 billion, up 26 percent. Sonic will pay a final dividend of 32 cents fully franked.

While Sonic's Australian rivals have been engaged in fierce domestic consolidation, Sonic has been rapidly expanding in overseas markets such as Europe and the United States. It bought Clinical Laboratories in Hawaii in June for US$121 million.

Sonic's shares closed Wednesday at A$13.72. The stock traded above A$18 in October 2007 and below A$13 in March. ($1=A$1.15) (Reporting by Miranda Maxwell)