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- Release Date: 21/08/12 16:41
- Summary: FLLYR: EBO: GROWTH MOMENTUM CONTINUES FOR EBOS
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EBO
21/08/2012 14:41
FLLYR
REL: 1441 HRS Ebos Group Limited
FLLYR: EBO: GROWTH MOMENTUM CONTINUES FOR EBOS
21 August 2012
RESULT ANNOUNCEMENT FOR THE FULL YEAR
TO 30 JUNE 2012
GROWTH MOMENTUM CONTINUES FOR EBOS
RESULT KEY DETAILS
FY 2012 FY 2011 %
Revenue $1,429m $1,344m +6.3%
Earnings before Interest and Tax (EBIT) $43.1m $37.7m +14.3%
Net Profit After tax from continuing operations
$27.9m
$23.4m
+19.4%
One off gain on sale of Scientific business - $8.2m N/A
Earnings per share from continuing operations
53.6 cents
45.4 cents
+18.1%
Final Dividend 20.5 cents 18.0 cents +13.9%
Full year Dividend 34.0 cents 31.5 cents +7.9%
Special Dividend - 20.0 cents N/A
COMMENTARY
The acquisition of the Masterpet animal health business in December 2011 has
helped EBOS achieve another excellent full year result with net profit from
continuing operations up 19.4% to $27.9m.
Last year we enjoyed the one off gain of $8.18m from the sale of our
Scientific business which resulted in the payment of a 20 cents per share
special dividend.
EBITDA increased to almost $47m (last year $41.1m) and EBIT increased to
$43.1m (last year $37.7m).
A further highlight for the year was positive operational cash flow of $28
million.
A new dual banking facility of $204m has been negotiated with the ANZ and BNZ
banks.
Earnings per share from continuing operations has increased to 53.6 cents per
share compared with 45.4 cents per share last year and 39.5 cents per share
in 2010. This represents a 35.7% increase in earnings per share in just two
years.
Our Masterpet acquisition is fully meeting expectation and has made a welcome
addition to group profitability. Our core healthcare businesses once again
demonstrated the merit of our diverse business model operating across
multiple touch points in Healthcare. Solid results were achieved in a
tightly constrained Healthcare sector.
Directors have declared a fully imputed final dividend of 20.5 cents per
share, payable 5th October 2012, following the interim dividend of 13.5 cents
per share paid in April 2012.
The Dividend Reinvestment Scheme will operate enabling shareholders to elect
to take shares in lieu of a dividend at a discount of 2.5% to VWAP.
OUTLOOK
The Healthcare sectors in Australia and New Zealand are undergoing
significant reform as both governments look to manage their burgeoning health
spend. The short term outcome will be a cap on growth in the sector and
increasing margin pressure.
Our group is however exceptionally well placed to capitalise on new
opportunities that these reforms will bring, and we continue to evaluate a
number of potential acquisitions.
As signalled at the half year we will be looking to Masterpet and other
opportunities in the Animal health sector to provide income growth outside of
our traditional markets.
We have our core businesses in strong market positions with excellent systems
and management. We have a strong balance sheet, positive cash flows and new
dual banking facilities in place. Collectively these provide a strong
platform from which to grow our company.
Directors remain very positive for the Group's medium term prospects.
For further information, please contact:
Mark Waller Rick Christie
Managing Director/CEO Chairman of Directors
Tel: (03) 339 5061 Mobile: 021 2422872
Mobile: 021 368746
End CA:00226237 For:EBO Type:FLLYR Time:2012-08-21 14:41:34
