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Ebos reports higher profit, looks for acquisitions

NZPA

Friday 26th August 2011

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Medical equipment company Ebos Group has reported an 19 percent rise in profit from continuing operations achieved in what it describes as an outstanding year.

The company is looking at acquisitions and is optimistic about its position in a range of markets in the health sector.

Ebos reported a net profit from continuing operations of $23.4 million in the year to June 30, 2011, up from $19.69 million in the same period a year ago.

Net profit after tax of $31.58m was up from $23.44m. Revenue rose to $1.34 billion from $1.32 billion.

Directors declared a final dividend of 18 cents a share payable on October 7.

"In the past four years since we expanded our interests in pharmaceutical wholesaling and logistics, earnings have more than doubled," the company said.

The company said the increase in sales was achieved even though three devastating earthquakes in Canterbury, New Zealand, and disastrous flooding in eastern Australia had an impact on discretionary healthcare spending.

The group was able to maintain the supply of crucial pharmaceutical and medical supplies on time to key public healthcare customers with minimal disruption to the supply chain.

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