Here comes the sellers in big numbers...
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Here comes the sellers in big numbers...
How many of the naysayers attended the investor briefing and have an understanding of the strategic approach from the new CEO (which is already showing very positive signs)? I've heard all the negativity about past performance and the risks involved with weather etc, yet after digging in to this company in considerable detail, I am confident about Comvita is heading. Time will tell.
Wow, selling is just unstoppable...someone is keen to meet lower lows!
Yep, once a few drones take flights of fancy, the worker bee's will soar to new heights.
Just been to my local chemist warehouse to buy some comvita umf5 only to find they have sold out. Lady said hard to keep up with demand at moment.
https://www.nzx.com/announcements/360147
CVT Annual Report
"How important is the new honey harvest model that you have launched for FY21 in reducing your risks going forward?
DAVID: One of the criticisms from shareholders when I joined was the lack of predictability of results given the disproportionate impact poor harvests have had on the business historically.
We have completed substantial changes to the business and the business structure,
we emerge more focused, more agile and more resilient. We are in the process of Building a Better Business.”
]We have tried to be explicit about what constitutes a bad and a good harvest and what the financial impact will be with our recent disclosures. Our new harvest model launched for FY21 means our apiary division makes a zero contribution to group profits
if we have a bad harvest (rather than recording a loss), but its contribution can be accretive to group profits by 40–50% should we have an equivalent harvest to FY20.
We believe that this will help us significantly increase predictability of our results going forward and ensure our attention is more focused on our market performance from both a sell-in and sell-out perspective"
Thanks jorge
Well i will hold a bit longer($2.50 entry) after reading the interviews with David and Brett etc. Davids our transformation man.
Now that you have agreed a five-year plan, how do you see the process going forward? What will be the significant outcomes that signal things are on track?DAVID: We have already communicated our plan with our shareholders to deliver a 20% EBITDA margin by FY25, and we’ll share more about our journey to that FY25 goal in due course. Having made some tough decisions regarding our operating and capital structure, the most important immediate thing is to deliver a sustainable and profitable FY21 result that will give all our stakeholders confidence we are on track.
Comvita founder says in this article from the 13/9 “sales are going through the roof”https://nzherald.co.nz/the-country/n...ectid=12363040