Oceania Natural slashes 2017 forecast as cheap rival honey weighs on Chinese sales

Oceania Natural slashes 2017 forecast as cheap rival honey weighs on Chinese sales
Paul McBeth
By Paul McBeth Jan. 24 (BusinessDesk) - NXT-listed Oceania Natural has slashed its 2017 revenue forecast as deep discounts on rival honey products undermine sales into China.  The Auckland-based company lowered its revenue target to $2.2 million for the year ending March 31 from $5.4 million. Sales into China via distributors are expected to be $605,000, down from a previous forecast of $4 million, while Oceania's direct sales are projected to be $1.6 million, up from $1.4 million. The forecasts make up Oceania's key operating milestones...