Update: From the hive to the shelf
Comvita (CVT) has put the building blocks in place to grow sales to more than NZ$400m within five years (we are estimating FY20 sales of NZ$440m) and at the same time improve margins and ROCE. In the last three years CVT’s sales have almost doubled and the operational leverage has seen operating profit treble in the same time frame. In FY16 EPS increased by 45%, dividends were up 23% and ROCE improved from 12% to 15.3%.Comvita is engaged in manufacturing and marketing natural health products. Through its subsidiaries and associate, Co. is also engaged in the extraction of apiary, medical honey, propolis and herb; and property and intellectual property ownership. Co. distributes its products in New Zealand, Australia, Asia, North America, Europe and the United Kingdom. Co. operates in five segments: New Zealand, Australia, Asia, Europe and Medical. New Zealand segment includes New Zealand market. Australia segment includes Australian domestic market. Asia segment includes Asian operations. Europe segment includes the United Kingdom and European market. Medical segment includes medical based products.
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