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

Mon, 23 Jan 2017

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...

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