Comvita slips into loss in half-year results

Comvita slips into loss in half-year results
Comvita bought Honeyworld last July. (Image: supplied)
Greg Hurrell
Comvita is blaming weak demand in China for a disappointing half-year result, posting a loss for the six months to Dec 31.The mānuka honey wholesaler reported an unaudited net loss after tax of $3.2 million for the period, compared with a net profit of $4.2m for the Dec 31, 2022 half year.Total revenue was $103.4m, a decrease of 7.8% from the same period last year.Comvita’s earnings before interest, tax, depreciation, and amortisation (ebitda) was $6.1m, compared with $13.4m for the Dec 31, 2022 half year. The company said...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024