Comvita shares fall 13% as 1H loss disappoints

Mon, 25 Feb 2019

By Rebecca Howard Feb. 26 (BusinessDesk) - Comvita shares fell 13 percent after the honey products maker swung to a first-half loss and its planned shift to more formal sales channels into China is taking longer than expected. Comvita said its net loss was $2.7 million in the six months to Dec. 31 versus a net profit of $3.7 million in the same period a year ago. Revenue was $77.7 million versus $83.6 million a year earlier. While recent trading had improved, chair Neil Craig said issues in the first-half mean the company is unlikely...

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