Ebos Group has posted net profit of $68.8 million for the six months to 31 December 2016 following significant growth across its healthcare and animal care divisions in Australia and New Zealand.
The pharmaceutical and petcare company saw group revenue up 17 per cent to $4.0 billion. Ebos said the statutory results in the first half were negatively impacted by the stronger NZD/AUD exchange rate, which the Group estimated to have reduced EBITDA and NPAT by approximately $3.7 million and $2.1 million.
“Our healthcare and animal care businesses are performing strongly and the benefits of our diversified portfolio of businesses are evident again in the first half results,” said Patrick Davies, CEO, Ebos Group.
“We continue to invest in our healthcare businesses as evidenced by completion of the Terry White Chemmart merger in the first half. This merger has created one of Australia’s largest retail pharmacy networks that is well placed for growth and future opportunities that emerge in the retail pharmacy sector,” he said.
TerryWhite Chemmart has posted strong half year earnings with total revenue doubling from $16.9 million to $33.9 million, which the group attributed to the merger of the two companies.
Ebos’ healthcare business generated a 6.9 per cent increase in EBITDA for the period, underpinned by an increase in revenues of 18.1 per cent.
The Animal Care business recorded 2.7 per centrevenue growth and 7.8 per cent EBITDA growth for the period.
Ebos said the Vitapet brand’s above-market revenue growth also demonstrated the continued strong performance of “this key brand in both New Zealand and Australia”. Ebos’ 50 per cent owned Animates business now operates 37 retail stores and 10 veterinary clinics in New Zealand.
