Financial probe at Comvita finds mānuka honey company overstated profit by $4m

In December the honey company appointed an independent accountant to analyse its accounts. (Image: Comvita)

Mon, 10 Feb 2025

More financial irregularities have been identified by the mānuka honey company Comvita.In a statement to the New Zealand Exchange (NZX) on Monday morning, the embattled honey firm said it had overstated after-tax profits by $4 million in the 2023 and 2024 financial years. It had previously said it had overstated after-tax profit by $2m. Comvita appointed an independent chartered accountant to scrutinise its books in December. Then, it blamed the irregularities on a Chinese subsidiary. On Monday, it said the accounting firm h...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

The Quiz Free

QuiznessDesk, Wednesday, Sept 17

Take a break and try our quiz.

The Quizmaster 9:15am

Technology

NZ-based Kami acquires UK education platform

Kami's education platform is widely used in the United States.

Greg Hurrell 5:00am

NZ-based Kami acquires UK education platform

Opinion

Peter Griffin: Time to put NZ tech first

NZ's tech future hinges on breaking with tradition and betting big on local ingenuity.

Peter Griffin 5:00am

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Primary Sector

Primary Sector

Global dairy prices fall

Global dairy prices fell slightly overnight, although the losses "were softer than those recorded at the previous auction". Tuesday night’s Global Dairy Trade auction saw the Price Index fall 0.8% despite 5.7% less product being sold and weaker bidding ratios. Only cheddar manage...

Staff reporters 8:15am