Ebos lifts interim profit by 29% as Masterpet performs

Ebos Group, the healthcare and animal care products company, lifted first-half profit by 29 percent on the contribution of its Masterpet business, acquired a year earlier. The first-half dividend has been bumped up 30 percent.

Profit was $14.6 million, or 29 cents a share, in the six months ended December 31, from $11.6 million, or 22 cents, a year earlier, the Christchurch-based company says in a statement. Sales rose 9.4 percent to $755 million.

Ebos, which built a successful business distributing products such as health consumables, diversified its earnings in December 2011 with the acquisition of Masterpet for $105 million plus debt. It was the company's biggest deal and gave it a suite of brands, including Procter & Gamble pet care, Eukanuba and IAMS pet food, and the Vitapet grocery brand.

Sales from animal care jumped to $81 million from $15.5 million, generating earnings before interest, tax, depreciation and amortisation of $9.4 million from about $1.9 million a year earlier, when it did not get a full six-month contribution. Animal care's result met company expectations, the company says.

Healthcare sales were little changed at $673 million, generating EBITDA of $19.6 million, up from about $19 million a year earlier.

The company lifted its interim dividend by 4 cents to 17.5 cents payable on April 3 to shareholders on the register as at March 8.

Ebos says it is evaluating new acquisitions and anticipates "a strong full-year result".

The shares rose 1.1 percent to $8.90.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7019 -0.0025 -0.35%
AUD 0.9418 0.0022 0.23%
EUR 0.6259 -0.0013 -0.21%
GBP 0.5426 -0.0003 -0.06%
HKD 5.4685 -0.0178 -0.32%
JPY 78.4570 -0.1210 -0.15%

Commods

Commodity Price Change Time
Gold Index 1256.4 -2.470 2017-05-25T00:
Oil Brent 51.8 -2.520 2017-05-25T00:
Oil Nymex 48.9 -2.480 2017-05-25T00:
Silver Index 17.2 0.070 2017-05-25T00:

Indices

Symbol Open High Last %
NZX 50 7434.5 7436.0 7434.5 -0.12%
NASDAQ 6183.0 6217.3 6163.0 0.69%
DAX 12693.8 12697.7 12642.9 -0.17%
DJI 21063.0 21112.3 21012.4 0.34%
FTSE 7514.9 7529.7 7514.9 0.04%
HKSE 25671.0 25724.4 25630.8 -0.06%
NI225 19798.5 19801.6 19813.1 -0.26%
ASX 5789.6 5789.6 5789.6 -0.76%