Comvita narrows annual loss after profitable 2nd half

Mon, 24 Aug 2020

Comvita narrowed its annual bottom-line loss and stressed the turnaround in operating results with a second-half profit on record revenue. The honey products company reported a $9.7 million net loss for the year ended June compared with a $27.7 million loss the previous year. The latest loss included write-downs in the value of various investments, such as the Putake queen bee rearing joint-venture business which is being wound down after failing to attract a buyer. Comvita also wrote off a $2.3 million loan to its Medibee Apiaries Aus...

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