Ebos Limited EBO

[okay]

The Aussie listing doesn't seem to generate a lot of excitement. A company with $5.8 Billion in sales, and as at the time of writing not a single sale on the ASX since the 28th! With one solitary bid on there for 500 shares @ $A7.7 lol.

[RTM]

Will EBOS get included because of its size into some ASX Indexes which would force some folk to pay attention ?
Or to small in that market ?

[percy]

The AGM was well attended.Good speeches by Rick Christie and Mark Waller.First time CEO Patrick Davies has spoken.He spoke well.Excited with the new Melbourne distribution warehouse,which is operating.Offical opening next month.State of the art.Very positive speaker.The Blackhawk business is in premium animal food,which is growing quickly and with EBO sales channels expected to grow even quicker.Would appear another company is the distributor [at present] in NZ.
The directors who were up for re election gave good back ground to their contribution to EBO success.Peter Williams is a hard case.Wanted to be re elected business because he had so much fun at board meetings!!.Great bit of humour which was appreciated.
Ebola.Although EBO are not involved in drug manufacturing,they would be called on by governments in Australia and NZ to do the distribution. \
Figures and projections.No.
My overview is the company's future looks exciting.
To Tim,nice to catch up.See you at our next get together,when ever that is.Tim is a keen reader of sharetrader,but has not yet joined us as he only has a gmail address.
I have asked Patrick Davies to post on EBO a short clip of their new warehouse in action.He told me after the meeting he thinks it is the best in the world.

[JayRiggs]

Thanks for the AGM summary percy. Very positive indeed.

[noodles]

EBOS upgraded By Forbar- $98mill
http://podcast.radionz.co.nz/busines...ations-048.mp3

Prior to the AGM, Average forecasts were $95.8mill.

Without reading the Forbar report, I think it could prove conservative given the 10% growth in the first quarter.

[Beagle]

Hi Percy,

Mate would you mind sharing your impressions of how serious or otherwise the regulatory environment in Australia is in regard to their operations there, (for those of us with insufficient time to read the full annual report and attend the ASM). Aren't they looking at some sort of federal price controls on certain products over there ?

[winner69]

EBOS upgraded By Forbar- $98mill
http://podcast.radionz.co.nz/busines...ations-048.mp3

Prior to the AGM, Average forecasts were $95.8mill.

Without reading the Forbar report, I think it could prove conservative given the 10% growth in the first quarter.

That's not much for the normal bullish analyst

I have in mind $100m as a good result ....about 67 cents a share ....which is 6% more than FY14.

So at $10 about 15 times earnings ....um

[percy]

Hi Percy,

Mate would you mind sharing your impressions of how serious or otherwise the regulatory environment in Australia is in regard to their operations there, (for those of us with insufficient time to read the full annual report and attend the ASM). Aren't they looking at some sort of federal price controls on certain products over there ?

From memory the CEO Patrick Davies did say they have managed to work in the changing regulatory environment [ and do well] for ....
years.Did not hear whether that was 20,30 or 40 years,but it was some time !!!.
Mark Waller has always said changes give rise to opportunities.As there are/ have been a lot of changes, Ebos has been able to take advantage of those opportunities.
Patrick Davies did point on that in the human health supply chain they work on some very small margins.Tighter margins means only firms like Ebos, with state of the art distribution logistics survive.Means more drug manufacturers will give their distribution to Ebos,and it is too expensive for them to do themselves.
The animal sector has a lot higher margins.The top end of the market has the best margins and growth.

[noodles]

That's not much for the normal bullish analyst

I have in mind $100m as a good result ....about 67 cents a share ....which is 6% more than FY14.

So at $10 about 15 times earnings ....um

Remember that EBOS has around a $12mill in Amortisation of Intangibles charge(annually). So any pe estimate should really take that into account. I think you will find pe will drop below 14 when you factor that into it.

[Beagle]

Thanks Percy. As a keen pet owner of three dogs I have taken a particular interest in people's propensity towards spending money on their pets. Its a curious phenomenon. I heard a recent survey of U.K. pet owners which said nearly half of dog owners were more concerned about their dogs health than their partners health !!!...I'm not sure what this says about the state of marital relations in the U.K. lol.
My own psycho-analysis of people spending habits on pets goes along these lines...Firstly, my three dogs are all always over-joyed to see me at the end of the day, and won't leave me alone until they've all been thoroughly greeted and properly patted which takes quite some time I tell ya. Anywhere near the same level of enthusiasm cannot always be said for my wife. Kids can be pretty variable too on the odd occasion when I get to see them now they've left home. My dogs always give true 100% unconditional love. I wonder how many people can always say the same about their partner and kids ?????? Perhaps this explains the sort of survey results I've seen / heard about people's propensity to look after their pet's health irrespective of cost ?