Comvita reports lower profit

Comvita said improved sales and profits in its last quarter were not enough to make up for the poor results of the first nine months of the year.

The company today reported net profit after tax of $503,000 for the year ended March 31, down from $5 million in the same period last year. The profit was achieved on sales of $82 million, down from $84.9 million in the previous year.

Directors have declared a final dividend of three cents per share, payable on June 24 to shareholders on the register on June 17.

NZPA

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