EBOS Group this morning unveiled its financial results for the year to 30 Jun, with EBIT earnings surging 16.3% to exceed NZ$200 million for the first time.
The net profit after tax was NZ$127 million, achieved on total revenues of NZ$7.1 billion, with ceo Patrick Davies saying “the result reflects our ability to capture the growth opportunities that continue to emerge within our prime business segments”.
In the key Australian pharmacy market EBOS saw “solid wholesale revenue growth” which was boosted by increased levels of activity in the OTC channel.
Revenue jumped 19.6%, accelerating in Mar 2016 when the government PBS listed the new specialty Hepatitis C medicines.
As well as wholesaling the Hep C drugs, EBOS was contracted to provide the third party logistics for the medicines.
“EBOS today continues to expand the breadth and depth of services it offers multinational suppliers, well beyond that of the traditional wholesale model,” Davies said.
“We are actively working on further opportunities to expand our unique trans-Tasman business solutions model by partnering with manufacturers to provide a wide range of valued services,” he said.
During the year EBOS invested $17.6 million in capital works, including a new $3.9 million Sydney warehouse specifically commissioned to undertake the NSW Government’s medical consumables contract.
The company is also developing a new $58 million distribution facility in Brisbane, which is expected to be operational by Jun 2018, as well as another new warehouse in Sydney to cater for growth in the EBOS contract logistics operations, at a cost of about $15.5 million.
Davies said the company was confident of further profit growth into the current financial year.
The above article was sent to subscribers in Pharmacy Daily's issue from 25 Aug 16
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 25 Aug 16