EBOS Group Limited this morning released its financial results for the year to 30 Jun, with net profit after tax up 4.9% to NZ$133.3 million.
That was achieved on total revenue of NZ$7.6 billion, up 7.4%, as the group realised benefits from"both organic growth and strategic investments undertaken in prior years".
Excluding currency impacts and costs associated with the acquisitions of Terry White Group and HPS, the underlying net profit after tax was NZ$138.6m, up 11.6%.
In the Australian pharmacy market wholesale revenue growth - excluding the impact of the high cost hepatitis C medicines - was affected by the ongoing impact of PBS reforms and lower levels of activity in the non-prescription OTC channel, the company said.
The year also included the merger of Chemmart with Terry White Group, with EBOS ceo Patrick Davies describing 2017 as "a transformational year for TerryWhite Chemmart" as the network undergoes an extensive rebranding and alignment program to bring the groups together.
The Endeavour Consumer Health products division recorded very strong revenue growth, with weaker demand from China offset by strong sales in South Korea.
In Institutional Healthcare total revenue grew 13.3% driven by hepatitis C medicines, market growth and contributions from Onelink Australia and Zest.
Davies said the group's recently acquired HPS business (PD 23 May) would form a key component of Institutional Healthcare into the future, "providing the group with the benefit of an increasing trend from the hospital channel to outsource pharmacy services".
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