Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Ebos lifts interim profit by 29% as Masterpet performs

Ebos lifts interim profit by 29% as Masterpet performs, bumps up dividend

Feb 19 (BusinessDesk) – Ebos Group, the healthcare and animal care products company, lifted first-half profit by 29 percent on the contribution of its Masterpet business, acquired a year earlier. The first-half dividend has been bumped up 30 percent.

Profit was $14.6 million, or 29 cents a share, in the six months ended Dec. 31, from $11.6 million, or 22 cents, a year earlier, the Christchurch-based company said in a statement. Sales rose 9.4 percent to $755 million.

Ebos, which built a successful business distributing products such as health consumables, diversified its earnings in December 2011 with the acquisition of Masterpet for $105 million plus debt. It was the company’s biggest ever deal and gave the company a suite of brands including Procter & Gamble pet care, Eukanuba and IAMS pet food, and the Vitapet grocery brand.

Sales from animal care jumped to $81 million from $15.5 million, generating earnings before interest, tax, depreciation and amortisation of $9.4 million from about $1.9 million a year earlier, when it didn’t get a full six-month contribution. Animal care’s result met company expectations, it said.

Healthcare sales were little changed at $673 million, generating EBITDA of $19.6 million, up from about $19 million a year earlier.

The company lifted its interim dividend by 4 cents to 17.5 cents payable on April 3 to shareholders on the register as at March 8.

Ebos said it is evaluating new acquisitions and anticipates “a strong full-year result.”

The shares rose 1.1 percent to $8.90.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news