Sharechat Logo

Comvita Limited (NZX: CVT) Reports Strong Q1 Earnings Improvement

Monday 11th October 2021

Text too small?

Comvita is pleased to report that EBITDA improved by 10.6% in the first quarter of FY22 versus the prior corresponding period (PCP). This was despite $4m of goods scheduled for delivery in September being impacted by Covid related shipping delays (will be invoiced in October). Including these delayed shipments, revenue was improved by 4.5%. This is especially encouraging given that we increased our brand investment by 50% in the same period. Full year operating EBITDA guidance is maintained at between $27M and $30M.

David Banfield, Group CEO, commenting said “This is a pleasing result given that we were up against a strong PCP performance and gives further evidence of underlying momentum in our business, despite continuing disruption to offline distribution and the supply chain to many markets. I am also pleased that our refined business model enables a material increase in investment in our brand that is critical to our long-term growth aspirations and allows us to share the amazing Comvita story to discerning consumers around the world.”

Please see the link below for details

Comvita reports strong Q1 earnings improvement

Source: Comvita Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZME celebrates significant digital subscription milestone
GSH - Acquisition of Viaduct venue
DGL - Delisting from the Main Board of NZX Limited
KPG Annual Meeting 2022 presentation and address
NZL - Completion of Retail Bookbuild
ArborGen Announces Board Change
Oceania announces $500m sustainability-linked loan
MFB - Nomination of Cecilia Robinson
29th June 2022 Morning Report
GSH Appointment of new Chairman