EBOS profit up 20% to $150m
August 26, 2015
EBOS is continuing to reap the
benefits of its expansion into
Australia including the Symbion
acquisition (PD 29 May 13), today
reporting strong earnings growth
for 2015.
CEO Patrick Davies said the
result reflected the strength of the
group’s trans-Tasman approach to
healthcare and animal care.
He said the EBOS health
businesses were benefiting from
“sound underlying economic
fundamentals,” with solid increases
in demand for services across the
sector.
Revenues for the year exceeded
NZ$6 billion for the first time, up
5.4%, with pre-tax profit rising
19.8% and net profit after tax
increasing to NZ$105.9 million.
The Australian healthcare
business saw a 5.1% lift in revenue,
with performance enhanced by
income from the group’s 25%
investment in Good Price Pharmacy
Warehouse (PD 26 Aug 2014).
Davies said GPPW was
“complementary to our marketleading
Chemmart Pharmacy
offering, which continued to
perform well with 39 new stores
opening throughout the year and
an additional 33 stores signing up
to join the Chemmart brand”.
Other key milestones during
the year included the opening
of the group’s new $31 million
pharmacy distribution facility in
Melbourne last Nov; the launch of
the new Healthsave banner brand
for community pharmacy which
currently boasts 25 members; and
strong consumer products sales
growth, including the expansion of
Faulding’s distribution into NZ.
The company is set to commence
operations later this year under
its recently awarded NSW Health
medical consumables warehousing
and distribution contract.
“It is pleasing that a major
Australian state government has
chosen to partner with the Group
in recognition of our supply chain
expertise,” Davies said.
In New Zealand the company’s
pharmacy sales grew by 5.3%.
Davies also highlighted the Sixth
Community Pharmacy Agreement,
with funding and industry regulation
“largely unchanged, including the
maintenance of the CSO funding
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