Comvita 'Laying Base For Growth'Andrew Janes, The Dominion Post (New Zealand), 2/24/2007
BEE products company Comvita says it is laying the foundations for growth, after posting an after-tax profit of $1.5 million for the year, down slightly despite a strong rise in revenue.
The Te Puke-based company, which produces mainly bee-related health products such as propolis throat spray, bee pollen capsules and royal jelly soap, said it was still on track to meet its goal of $100 million annual sales by 2010…
During the year Comvita bought natural health company NZ Vitalife, lifted its stake in United States licensing partner Derma Sciences and raised $11.5 million in November to fund the acquisitions and build up raw material supplies.
Comvita is looking at more acquisitions in 2007, chief executive Brett Hewlett said…
Approval by the US Federal Drug Administration of Comvita's wound care products, which incorporate honey in wound dressings, was imminent, Mr Hewlett said. FDA approval would also give the products credibility in markets other than the US…
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