22 Aug 2012

Animal health diversification pays off for Ebos

3:52 pm on 22 August 2012

The medical supply company Ebos plans to continue expanding into animal health across the Tasman, because it expects the health sector to remain flat.

The listed firm's full-year profit rose by a fifth following its decision to branch out into the animal health sector.

Chief executive Mark Waller says that decision has paid off and the company is in a strong position in New Zealand's markets.

After-tax profit rose 19.4% to $27.9 million for the year to the end of June, compared to the previous year; revenue rose 6.3%; and underlying earnings rose 14.3% to $43.1 million.

Mr Waller says the acquisition of the Masterpet animal health business last December drove the result and he is not expecting any momentum in the health sector.