Ebos posts $2.58 mln 1st half profit

By NZPA

Tuesday 18th February 2003

Christchurch-based health products supplier Ebos Group Ltd today posted a $2.58 million net after tax surplus for the first half ending December 31.

The result is up 12.8 percent on the same period last year.

Total operating revenue rose by almost 10 percent to $114 million, while earnings before interest and tax (ebit) climbed 14 percent at $5.19 million.

The company will pay a fully imputed interim dividend of 7 cents per share on March 14.

"Considering that business sector confidence was a little volatile before Christmas, the board is pleased to see operating surplus after tax improve ," Ebos chairman Philip Burdon said.

The result includes earnings made by the now 47.5 percent-owned Global Science & Technology Ltd and wholly owned healthcare supplies business Health Support Ltd.

"Our sustained performance originates from both organic growth and from a balanced strategy of acquiring and integrating compatible businesses and acquiring new agencies and brands," managing director Mark Waller said.

The company had total assets worth $92.1 million at the end of the half year, compared with $89.7 million a year earlier.

Mr Waller said the higher New Zealand dollar had a negligible impact on the first six months and any future effect will have a lag.

"Seven months into the full year, directors are confident about future prospects for the group and Ebos is on course to delivery a solid second half trading performance," Mr Burdon said.

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