Comvita upgrades annual profit guidance; shares jump to a record

Mon, 09 Nov 2015

By Sophie Boot Nov. 10 (BusinessDesk) - Comvita, the manuka honey products maker, raised its annual profit guidance after first-half revenue jumped 52 percent, driven by sales in New Zealand, Asia and Australia. Its shares soared to a record high. The Te Puke-based company turned to a profit of $3.04 million in the six months ended Sept. 30, from a loss of $3.3 million a year earlier, it said in a statement. Sales gained to $91.1 million from $59.7 million. "At our annual meeting on 23 July 2015, we advised the market that our earnings...

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