Comvita Limited has provided an update on its trading performance, stating that its revenue for the first four months of the financial year is approximately 10% lower than the corresponding period last year.
This has resulted in a decrease in earnings, inventory, net debt, and cashflow.
The company forecasts that its half-year revenue will be down by up to 5% compared to the previous year, and reported EBITDA after ERP investment is expected to be 20% lower.
Comvita expects its full-year revenue to be between $245 million and $255 million, with reported EBITDA after ERP investment between $33 million and $38 million.
The company remains confident in its business model and expects improving consumer confidence and demand.
Despite the current challenges, Comvita retains its FY25 guidance of earnings of approximately $50 million.
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