- Release Date: 21/02/12 17:51
- Summary: HALFYR: EBO: POSITIVE PROGRESS FOR EBOS
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EBO 21/02/2012 15:51 HALFYR REL: 1551 HRS Ebos Group Limited HALFYR: EBO: POSITIVE PROGRESS FOR EBOS 21 February 2012 POSITIVE PROGRESS FOR EBOS EBOS Group has achieved another excellent half year result, particularly against a background of ongoing reform and tight budgets in public healthcare and a difficult economic environment. Reported numbers are just above last year with a net profit after tax from continuing operations of $11.574 million, against $11.457 million last year. On a comparable basis our trading result is approximately 10% ahead of the previous half year, given that, the first half included over $1.0m legal, due diligence and acquisition expenses. Healthcare The NZ trading operations had ongoing efficiency gains following the merger of Health Support back office and information systems into PRNZ, leading to an overall net increase in results. In Australia our business continues to be influenced by the two speed Australian economy where the non resources, "real" economy, is finding the going tough. Capital spending also remains constrained. Against this background we still produced a credible result and continue to make solid progress with our "greenfields" new Perth based sales and distribution centre. Masterpet Acquisition The major news to conclude our first half year was the successful acquisition of the trans-tasman Masterpet group. The transaction was concluded in December. Total consideration was $105m in cash plus existing Masterpet debt. This exciting move into the Animal Health and Pet Care sector is a logical extension of the EBOS Group core competencies in sales, marketing and distribution. This market segment is growing internationally. Outlook The Masterpet acquisition will be a significant profit driver going forward. In healthcare we expect to see ongoing health sector reforms, however this macro driver will create opportunities for our group. We also see growth opportunities within the broader animal health and veterinary sector. Whilst EBOS has just completed its largest acquisition to date, we continue to investigate a range of new acquisition possibilities in both the Human and Animal Health sectors. Dividend Directors have declared a fully imputed interim dividend on 13.5 cents per share, payable on 20 April 2012 to shareholders on the register at close of business 6 April 2012. The dividend reinvestment plan will not be operative for this dividend. Mark Waller Rick Christie Managing Director/CEO Chairman of Directors EBOS Group Phone : (03) 338 0999 Mobile : 021 368 746 End CA:00219808 For:EBO Type:HALFYR Time:2012-02-21 15:51:04
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