Australian honey news and information — profit
Comvita Manuka Honey a takeover target after poor 2024 first half profit result
Leading New Zealand manuka honey producer, Comvita, has become a potential takeover target following a slide into loss-making in the first half of financial year 2023-2024.
In its statement on its latest results to the NZ Stock Exchange, the company reported a net loss of $NZ3.2million.
The result came on the back of a dip in sales with total revenue for the half, down some 12%.
Lower sales in both China and the US were said to be mainly responsible.
Takeover speculation has been growing in the wake of the results, and especially since the company’s recent notification to the NZSX that it had received a ‘Non-binding indicative offer.”