Comvita posts 1H loss of $790k on margin squeeze, competition in Australia, UK

Comvita posts 1H loss of $790k on margin squeeze, competition in Australia, UK
By Paul McBeth Nov. 28 (BusinessDesk) - Comvita, which makes health products from Manuka honey, reported a first-half small loss as its margins were squeezed by expensive honey and as trading conditions in Australia and the UK were stretched by stiff competition. The Te Puke-based company made a loss of $790,000, or 2.7 cents per share, in the six months ended Sept. 30, from a profit of $2.39 million, or 7.95 cents, a year earlier, it said in a statement. Sales fell 4.6 percent to $43.4 million. That was in line with guidance last month,...