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Ebos posts healthy interim profit

Wednesday 2nd March 2011

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Christchurch-based medical supply company Ebos Group posted a 12.6% rise in net profit from ongoing business for the first half of the year, and hopes to expand in future.

For the six months ended December 31, net profit was $11.5 million from continuing operations, with group net profit after tax of $19.8 million including a one-off gain from the sale of its scientific business.

Earnings before interest, tax, depreciation and amortisation for the period rose 9.7% to $20.7 million.

The result was on the back of record sales and earnings by Ebos' Pacific Islands business, the performance of its healthcare businesses, and improved efficiency from investments in technology and amalgamating parts of the business.

"The focus for the group is now very much on growth opportunities," said chief executive Mark Waller.

"We have two green fields projects underway to drive generic growth. Major growth, however, will come from new acquisitions and, in this regard, the board and senior executives have an evaluation programme underway on a broad range of opportunities."

Directors declared a fully imputed interim dividend of 13.5c per share, payable on April 21, in addition to the recent special dividend payment of 20cps.

All staff based in Christchurch are safe, and the company said it could ensure continuity of supply of pharmaceuticals and medical supplies to the region.

Ebos had enough stock nationally to supply Canterbury.

"As a Christchurch-based company we are acutely aware of the impact of the devastating earthquake on the city, its people and businesses," Waller said.

"Our sympathy is extended to everyone at this sad and difficult time."



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