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

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news