Comvita turned to a loss in first half, remains confident of increasing annual profit

Thu, 10 Oct 2013

By Tina Morrison Oct. 11 (BusinessDesk) – Comvita, which produces health products from manuka honey, said it posted a first-half loss on increased price competition in Australia and the UK and concern over New Zealand food safety in Hong Kong, however it expects to make up the difference in the second half to post a higher annual profit. The company reported a loss of about $1 million in the six months ended Sept. 30, from a profit of $2.4 million in the year-earlier period, Te Puke-based Comvita said in a statement. Sales slipped to $43.3 m...

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