New Zealand Apitherapy Products Firm’s Sales Up

Sales Sweet As Honey But Earnings Don't Quite Stick
By Liam Dann, New Zealand Herald, 8/12/2006

Honey and bee product company Comvita yesterday posted a mixed result for the six months to June 30. Net profits were down 7 per cent but overall sales were up 26 per cent.

Total revenue increased to $18.3 million from $14.5 million for the corresponding period last year. Net profit after tax was $602,000.

While that was lower than the half-year result of a year ago, it was well ahead of budget and in line with forecasts signalled at the AGM in April, the company said.

The Bay of Plenty-based firm sells a range of products, including honey, propolis, bee pollen, royal jelly and manuka honey wound-care products…