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DiaSorin dips over 9%, brokers cite cut to underlying sales growth outlook

(Reuters) - Shares in diagnostics group DiaSorin fell over 9% on Thursday despite a hike in its 2022 guidance, with brokers citing a cut to its underlying revenue growth outlook.

The Italian company expects its 2022 revenues to grow in a range of 2% to 3% at constant exchange rates, it said in a note, with revenues linked to COVID-19 tests seen rising to around 225 million euros ($225.47 million).

However, the group trimmed its outlook for underlying revenue growth - excluding COVID-related sales - to around 22% from around 24%.

Jefferies said in a note the market was trying to understand whether the lower underlying growth aim reflected some one-off headwinds specific for the third quarter.

The broker also cites higher wage and transport cost inflation and a late launch window for its Liaison Plex platform in the U.S., among potential risks for the group.

At around 1340 GMT, the stock was on track for its worst day since December 2021.

Net profit in the July-to-September period dipped 21.6% at current exchange rates to 62.1 million euros, while revenues came in at 326.8 million euros, down 4.8% compared with a year earlier.

($1 = 0.9979 euros)

(Reporting by Enrico Sciacovelli, additional reporting by Andrea Mandala', editing by Federico Maccioni)