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Strong Year for EBOS Group

Strong Year for EBOS Group

EBOS Group Ltd has continued with a decade long trend in reporting another record result with a strong increase in profit for the 12 months ended 30 June 2004.

The Group’s focus on growth across the health sector is delivering sustained earnings growth with profit at the pre-tax level up by 29% to $12.4m compared with $9.6m the previous year.

Net profit after interest, tax and goodwill amortisation was $8.404m, up 31% on the previous year’s result of $6.416m.

This was achieved on sales of $227.6m, up 1.6% on the previous year. Sales reflect changes in how Health Support Ltd records some of its third party logistics business. On a directly comparable basis, year on year sales for the group were up approximately 8%.

EBOS Chairman, Mr Christie says, “Recent acquisitions such as the brands Antiflamme, Allersearch and Liceblaster have all contributed to our improved performance. EBOS has a track record of successfully integrating well chosen acquisitions and extracting value quickly in terms of earnings per share growth”.

Directors have declared an increased final dividend of 11 cents per share (last year 9.4 cents), making a total payment of 20 cents per share this year (last year 16.4 cents). The dividend is fully imputed and is scheduled for payment on 8 October 2004.

The Managing Director, Mr Mark Waller emphasised that, “The 2004 result is a reflection of excellent performance from every business unit in the group, including EBOS NZ, Health Support, Australia, and Global Science, and once again a year of positive cash flow of $8.7 million from trading has assisted with growth”.

He notes, “that two new Australian acquisitions, namely Stelmara Medical and Vernon Carus were completed immediately after balance date. This investment of approximately $8 million represents a further important step in our Australian expansion. Both acquisitions will be earnings per share positive after funding costs.

We are making good progress towards building a robust business with multiple revenue streams on both sides of the Tasman”.

Shareholders’ interest increased to $46.9m from $43.3m previously. Key balance sheet numbers:

2004 $m 2003 $m Total Assets 92.4 92.6 Current Assets 60.4 62.2 Current Liabilities 34.4 38.7

The balance sheet numbers underscore improved returns on the asset base and equity fundamentals have also continued to improve with earnings per share of 30.5 cps up significantly from 23.5 cps in the previous year.

Commenting on the future outlook, Mr Christie says, “this decade long positive trend is a result of EBOS developing a culture of resilience and constantly seeking new opportunities. This is our best guide to future performance where we expect solid results to continue into 2005 and beyond”.

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