EBOS Group Limited reports $137.7 million profit on total revenue of $6.9 billion.
EBOS Group this morning released its financial results for the year to 30 June 2019, with CEO John Cullity saying the period had “set the foundation for the next wave of growth”.
During the year EBOS moved to 100% ownership of TerryWhite Chemmart and signed the exclusive pharmaceutical wholesale distribution agreement with Chemist Warehouse Group, which commenced on 01 July. The company also retained Blooms The Chemist, with Cullity saying “these were all great outcomes for our Community Pharmacy Division”.
“We have withstood the changing market dynamics and competitive pressures, and delivered both solid underlying earnings growth and another strong cash result,” he said.
Healthcare revenue declined by $183 million, mainly due to the reduction in hepatitis C medication sales. However excluding hepatitis C, and the impact of PBS price reforms, revenue grew 5.2%.
Cullity said he was pleased the recent CSO Review by the Australian Government had recognised the importance of the wholesale sector. “However if the wholesale industry is to maintain its service standards then it requires additional financial support through increased CSO funding and a sustainable wholesale margin,” he warned.
More information in tomorrow’s issue of Pharmacy Daily.
