Comvita posts 15-month profit of $18.5M, lowers dividend ratio to pursue 'opportunities'

Mon, 22 Aug 2016

By Jonathan Underhill Aug. 23 (BusinessDesk) - Comvita, the manuka honey products company, posted a 15-month profit that broadly met its guidance while lowering its dividend payout ratio to chase "growth opportunities". Profit was $18.5 million in the 15 months ended June 30, after Comvita changed its balance date, from $10.2 million in the 12 months ended March 31, 2015, the Te Puke-based company said in a statement. Comvita reported profit of $17.2 million in the 12 months ended March 31, 2016, and had said that as the April-June quart...

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