Comvita posts $77.4m FY loss after difficult year

The mānuka honey producer has had a rough 12 months. (Image: Hunter-Reilly)

Thu, 29 Aug 2024

Comvita has reported a $77.4 million loss due to significant one-offs and difficult market conditions.Last year, it reported a net profit after tax of $11.1m.Earlier this week, Comvita announced a non-cash impairment of assets of $59.8m as a result of its weaker performance. That was made up of $13.4m in investments, $3.4m in tangible assets, and $43m in intangible assets.It reported an underlying net loss of $5.6m versus an underlying net profit of $13.1m in the prior year. Earnings before interest, tax, depreciation and amortisation...

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