Davies to head up EBOS
February 19, 2014
SYMBION ceo Patrick Davies will
take the reins of the $6 billion EBOS
Group later this year, after the
company announced succession
plans along with its half yearly
result (PD breaking news).
NZ-based EBOS, which took over
Symbion last year, reported record
revenue in excess of NZ$3 billion
for the six months to 31 Dec 2013,
along with a NZ$49.4 million net
profit after tax.
The profit figure was three times
that of the previous corresponding
period, which was before the
Symbion acquisition.
MD Mark Waller said that
all business units had shown
“excellent performance” during the
period.
The NZ operations recorded
NZ$649m in turnover, while
activities in Australia, including
Symbion, recorded overall revenue
of NZ$2.1 billion and a net profit
after tax of NZ$41.7 million.
Waller said Australia was now
the major revenue/earnings
component of the business, with
the result particularly pleasing
given the large drop in the value of
the Australian dollar.
He said that the company
was optimistic about its growth
prospects, with its large scale
giving it the ability to grow further
through acquisition along with
structuring the combined trans-
Tasman businesses for future
growth.
As well as seeing Patrick take
over as ceo of the whole EBOS
group later this year, current
Symbion chief financial officer
John Cullity will also become CFO
of EBOS after the retirement of
incumbent Dennis Doherty later
this year.
Waller will step down as ceo
in late August after the full year
results are announced, to take on a
“key project role for 12 months to
work on driving the next phase of
the EBOS growth story.”
He will then become the
company’s chairman in Oct 2015
following the retirement of Rick
Christie from the role.
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