Healthcare and animal products company Ebos has posted a strong rise in first-half profit on sales gains across most of its businesses.
(file photo) Photo: 123RF
Net profit was up 22 percent to $AU81.7 million for six months ended December, with revenue rising 25 percent to $AU4.4 billion.
"Our extensive and diverse portfolio has again delivered a significant increase in both revenue and earnings," chief executive John Cullity said.
The company owns a wide range of businesses in wholesale and retail pharmaceutical supplies, health supplements such as Red Seal, petfoods and the Animates retail chain, and has a track record of double-digit growth on the back of buying and quickly bolting on businesses.
The latest result was boosted by a new contract to supply the discount Chemist Warehouse chain, which is expected to add $1 billion a year to revenues, along with expansion of the Terry White retail pharmacy chain in Australia.
Last year the company bought an Australian medical device company, LMT National Surgical, which Cullity said will give a new earnings stream and a platform for future expansion.
He said Ebos has a "warchest" of up to $AU350m for future acquisitions, and it had a broad range of potential targets for this year.
The company expected its full year result to show a significant increase in earnings, and to date has seen no real impact from the coronavirus.