In a statement to the NZX, the manufacturer of respiratory care systems and products for the treatment of obstructive sleep apnoea said with an exchange rate of about US65c for the New Zealand dollar for the balance of the year, it expected full-year reported profit to be between $135million and $140million.
The full-year reported profit guidance provided by the company in May, based on an exchange rate of US72c for the kiwi, was $125million to $130million.
Mr Daniell said revenue growth so far this year had continued to be robust and the company expected first-half constant currency operating revenue growth of about 12%.
As 99% of the revenue was generated outside New Zealand, the New Zealand dollar results could be influenced by exchange rate movements. This year, the kiwi had weakened against several other currencies, something that had been welcomed by exporters.
At current exchange rates, the company expected operating revenue for the first half to be about $380 million and the reported profit to be about $60 million.
Ebos Group reported a stellar 2015 financial result across the board, with a strong operating cash flow as a highlight, Forsyth Barr broker Suzanne Kinnaird said.
Ebos was the largest diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products. It was also the leading Australasian animal care products distributor.
Healthcare operating earnings were up 11% to $170 million on the previous corresponding period and 13% in constant currency terms with strong growth across all its market channels, she said.
Animal care earnings of $37million were up from $29million in the pcp.
Net debt of $317million was flat on the period, despite $64million of acquisitions.
''Strong operating cash flow and working capital management was a key highlight in the result. The 2015 financial year result provided further confirmation Ebos can continue to deliver strong cash conversion despite the significantly larger business post the Symbion acquisition. Ebos has the headroom to undertake further debt-funded acquisitions in the order of about $150 million and this remains a strategic focus area.''
Forsyth Barr had revised up its 2016 reported profit by 10%, lifted the share target price to $12.75 from $11.40 and had an unchanged rating of outperform on the company, Ms Kinnaird said.
Cavalier Corp, which is restructuring its business to revive its earnings, expects to cut debt by $6.5million from the sale of its Ontera Modular Carpets unit.
The Auckland-based company flagged the sale to Australia's Milliken & Co earlier this month and anticipated the deal would settle in one or two weeks. The deal was conditional on key Ontera employees accepting jobs with Milliken and the transfer of certain contracts and leases to the Australian company, Cavalier said in a statement.
If the sale goes ahead, Cavalier said it was expected to release about $6.5million, which would go towards the company's debt reduction programme.
Earlier this month, Cavalier said it had already lowered bank debt by $6million and was looking at asset sales, job cuts and outsourcing to try to lift profit.
As at December 31, Cavalier's net debt was $59.1million, and the debt-to-equity ratio stood at 39%, a level it called ''too high''.
Metro Performance Glass expects first-half profit to be below its prospectus forecast as capacity constraints in New Zealand's construction industry weigh on the country's largest glass processor.
Profit would be between $10million and $11million in the six months ending September 30, below its July 2014 prospectus forecast for profit of $12.1million, chairman John Goulter said in notes prepared for the first annual meeting since the company listed on the NZX last July. Sales would be in line with its prospectus forecast of $94.1million.
The company also said 2016 annual profit would be between $20million and $22million in the year ending March 31, on sales of $190million. In May, MetroGlass reported profit of $9.6million in the eight months ended March, on $115million in sales, after acquiring Metroglass Holdings before its initial public offering last year.
''Industry capacity constraints have led us to believe the current building cycle will last longer but have a lower peak than was anticipated last year at the time of IPO,'' Mr Goulter said.
