“Solid first half growth” for EBOS.
EBOS has just released its results for the six months to 31 December 2018, with the company’s statutory net profit after tax declining about 3.7% to $67 million. The company highlighted its Underlying Results, which showed a 4% increase in profit to $72.7 million, after adjustments relating to property sales and $8.8 million in restructuring & transactions costs and one-off items.
Total revenue was $3.5 billion, declining slightly due to a reduction in sales of hepatitis C medications. The company’s Australian Healthcare segment recorded a $161 million drop in sales, due to the impact of PBS price reforms and lower sales of hepatitis C medicines.
Key achievements during the period included the newly signed contract with Chemist Warehouse Group for the exclusive wholesale distribution of pharmaceutical products to over 450 Chemist Warehouse and My Chemist stores in Australia from 01 July 2019, and the acquisition of all minority shares in Terry White Group.
EBOS also opened its new automated distribution centre in Brisbane and commenced operations at its new Contract Logistics facility in Sydney. Other acquisitions included medical and surgical supplies wholesaler Warner & Webster, as well as the Quitnits head lice products business.
CEO John Cullity said the company had recorded a positive start for the first half of the financial year, with strong growth in its Animal care business and “subdued growth in Healthcare attributable to the general market environment and the impact of PBS reforms”.
More details in today’s issue of Pharmacy Daily.