August 21, 2012 / 2:56 AM / 5 years ago

NZ's Ebos Group year profit jumps higher

WELLINGTON, Aug 21 (Reuters) - New Zealand medical supplies and pet care company Ebos Group Ltd reported a 19 percent rise in underlying annual profit on increased sales, and said it was positive about its medium term outlook.

The company said net profit after tax for the 12 months to June 30 from continuing operations was NZ$27.9 million ($22.7 million) compared with NZ$23.4 million.

Last year’s result was further boosted to NZ$31.6 million reflecting a one-off gain of NZ$8.2 million from selling a business.

Revenue rose 6 percent, reflecting in part a contribution from animal healthcare company, Masterpet, which Ebos bought in December.

Shares in Ebos last traded up two cents at NZ$8.07. So far this year the stock has risen more than 20 percent against a near-11 percent gain for the benchmark NZX-50 index.

It declared a final dividend of 20.5 cents a share compared with last year’s 18 cents. It also said there would be a special dividend of 20 cents a share.

The company said a squeeze on spending by authorities in New Zealand and Australia would likely cap growth in the near term and pressure margins, but the medium term outlook was “very positive”. (Gyles Beckford)

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