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FIRST CUT: Ebos 1H profit lifts 12% to record $76.7M

FIRST CUT: Ebos 1H profit lifts 12% to record $76.7M

By Rebecca Howard

Feb. 21 (BusinessDesk) - Ebos Group, the pharmaceutical and animal health products maker, said its first-half profit lifted 12 percent as it reaps the benefits of a diverse portfolio.

Profit rose to a record $76.7 million, or 50.4 cents per share, in the six months ended Dec. 31, from $68.8 million, or 45.4 cents, a year earlier, the Christchurch-based company said in a statement. Total revenue slipped 0.4 percent to $3.94 billion on lower hepatitis C medicine sales. Earnings before interest, tax, depreciation and amortisation lifted 16 percent to $138.5 million.

“Our record first-half results are in line with our expectations and reflect a consistent positive momentum across both our healthcare and animal care businesses,” said chief executive Patrick Davies.

The board declared an interim dividend of 33 cents per share, up 10 percent from a year earlier, payable on April 6 with a March 16 record date.

The company reiterated that it expects a 10 percent lift in constant currency, underlying ebitda for the year. The constant currency forecast strips out any currency swings.

Ebos transformed itself in 2013 with the purchase of Australian pharmaceutical wholesaler and distributor Symbion and has since bought New Zealand vitamin and herbal tea maker Red Seal, pharmaceuticals firm Zest, Australian pharmacy retailer Good Price Pharmacy Warehouse, the BlackHawk Premium Pet Care pet food business and merged its Australian Chemmart pharmacy chain with rival Terry White Group. The healthcare and animal products maker bought Australia’s largest provider of outsourced pharmacy services to hospitals, HPS, for A$154 million, in May last year.

Ebos shares last traded at $17.16, and have shed 5.3 percent over the past year.



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