Medical centre and diagnostic provider Sonic Healthcare said its interim net profit rose 8 per cent to $187.9 million after a restructuring of its US pathology business led to double-digit profit growth and its new British business performed well. 
But the group's local operations were the weak link. Australian pathology and imaging was "adversely impacted by government policies", the company said. Fee cuts and the high cost of maintaining the network of pathology collection centres lead to a decline in earnings before interest, tax, depreciation and amortisation for that division.
The result from the six months ended   December 31 was up from $174 million in the prior period, but fell below the average estimate of $213 million among analysts surveyed by Bloomberg.
Revenue rose 22 per cent to $2.5 billion, up from $2 billion in the prior period.
Sonic reaffirmed its guidance for 2015-16 net profit in the range of $870 million to $900 million "assuming current foreign exchange rates prevail."
The board declared an interim dividend of 30&cent;, 30 per cent franked, to be paid on   April 6.
Shares in the $7.5 billion company have lost 4 per cent in the past year, compared to a 16 per cent fall in the S&P/ASX200 index. The stock closed at $18.13 on Tuesday, down from a 12-month high of $23.60 hit last   July.