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Ebos lifts annual profit 38% on asset sale, small sales lift

Ebos lifts annual profit 38% on asset sale, small sales lift

Aug. 26 (BusinessDesk) - Pharmaceuticals and medical supplies distributor Ebos Ltd. lifted annual net profit 38% reflecting the sale of its scientific operations, operational improvements and a small sales increase.

Net profit rose to $31.6 million for the year ended June 30, which included an $8.2 million one-off gain from the asset sale. Profit before that sale was up 18.8% while sales rose just 2% to $1.34 billion.

“Further gains have been extracted from our investments in internal integration, new information and online ordering technology,” the company said in a statement.

Ebos is the leading distributor of both specialty and generic medical and pharmaceutical products to the New Zealand, Australian and pacific Islands public and private healthcare sectors.

“Sales revenue is regarded as a robust outcome in demanding market conditions, particularly because the year included the effects on discretionary healthcare spending of the three devastating earthquakes in Canterbury, New Zealand, and the disastrous flooding in eastern Australia,” the company said.

The group's Christchurch facilities suffered only minor damage while the Australian distribution centres avoided any flood damage.

Ebos said its geographical diversification in the health sector will assist stability of sales as the Australasian economies work their way back from soft conditions.

Ebos will pay a fully imputed final dividend of 18 cents per share, taking the total annual payout to 51.5 cents including the 20 cents special dividend paid when the scientific operations were sold. Ebos paid 31 cents in dividends the previous year.

Ebos shares rose 0.3% to $6.70. The shares have been trending lower since hitting a record $7.80 in December last year but have recovered from their $6.30 low earlier this month.

(BusinessDesk)

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