Pet health and care products company EBOS posts another record first-half profit

Healthcare and pet care products company EBOS posted another record half-year profit, driven by strong growth in its community pharmacy division.

Revenue from the community pharmacy business for the six months to December was A$3.15 billion ($3.4 billion NZ). File picture.
Photo: 123RF

Key figures in Australian dollars (six months to December 31, 2021 vs 12 months ago)

  • Net profit of A$101.9m vs. A$92.9m
  • Underlying profit AU$109.3m vs. AU$94.3m
  • Revenue AU$5.25 billion vs AU$4.65 billion
  • Interim dividend 47 NZ cents per share vs 42.5 NZ cps

Its managing director, John Cullity, said the performance of its community pharmacy business was “particularly satisfactory”.

Revenue from the community pharmacy business for the six months ended December was A$3.15 billion, compared to A$2.73 billion.

“The commitment to our communities by all pharmacists and their teams during the pandemic has been nothing short of extraordinary. Since day one of the pandemic, pharmacists have remained open, providing advice, care and comfort to their patients and customers,” Cullity said.

EBOS’ TerryWhite Chemmart Network was at the forefront of Australia’s vaccination campaign, he said.

“The TWC Pharmacy Network has been responsible for supplying 23% of all Covid-19 vaccines delivered to pharmacies in Australia and we are proud of our efforts to support the health of our communities during the pandemic.”

The company’s animal care division, which included brands such as Animates and Vitapet, was also continuing its upward trajectory, he said.

“We continue to benefit from strong market momentum as well as the strength of our leading brands and market positions.

“Construction of our new state-of-the-art pet food manufacturing facility in Parkes, New South Wales has been completed and the project has now moved into the commissioning phase with all business benefits of this investment expected in FY24.”

Cullity said the growth of EBOS’ health and animal care divisions has bolstered the value of its diverse portfolio of businesses.

EBOS said it was comfortable with current business conditions, but was unsure of the effects of the Covid-19 disruption on the business.

Capital spending for the remainder of fiscal 2022 is expected to remain elevated due to continued investment in its operational infrastructure to support growth, he said.

EBOS also expected its A$1.17 billion acquisition of LifeHealthcare to be completed before the end of the financial year.

The deal is before the Commerce Commission for clearance.

Benjamin M. Yerger