Thursday, April 29, 2010

New Zealand Apitherapy Company’s Profits Soar

Comvita predicts 500+% lift in profit, shares rise 10%
Robert Smith, National Business Review, 4/29/2010

Comvita is forecasting a big lift in full year net profit after tax, with the manuka honey producer confirming today that it expects a bottom line result of $4.9 million.

That unaudited net profit forecast for the year ended March is up 512.5% on the previous year, when it recorded a net profit after tax of $0.77 million…

A progressive reduction in inventory, the sale of global licensing rights of Medihoney to Derma Sciences in February and the improved operating performance have seen the company cut its debt by 61.7% over the past year to currently sit at $11.6 million…

No comments: