Markets

Comvita upgrade a milestone towards regaining credibility

Jenny Ruth
Thu, 22 Apr 2021

Comvita CEO David Banfield (left) with Jacinda Ardern last week at the opening of Comvita's new flagship store on Auckland's Quay Street.
Jenny Ruth
Thu, 22 Apr 2021
Has Comvita finally learned the art of under-promising and over-delivering?Certainly, last week, the company was able to upgrade its previous operating earnings guidance for the year ending June by as much as 27.5% to between $22.5 million and $25.5m, up from $20m-to-$23m.Which makes a nice change from the sea of red ink the company has delivered investors for the last couple of years.Significantly, the upgrade comes even though this year's harvest has been below average – while last year, the company had a strong season, it had blame...

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