Comvita posts worse-than-expected $7.6m operating loss

Thu, 01 Aug 2019

By Gavin Evans Aug. 2 (BusinessDesk) - Comvita says it posted a full-year $7.6 million after-tax operating loss after sales in China were weaker than expected. In May, the honey marketer had forecast a full-year loss of $6 million due to its third poor harvest in a row. The weaker result was mostly due to a sales shortfall in June because of new requirements placed on daigou sales channels into China and disruptions from riots in Hong Kong, the company said today. Comvita shares fell 0.7 percent to $3.03, taking their loss this year to...

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