Suppose they can make $8m profit on an average basis, as appears to be the case looking at last few years. That's 17.5 cps. Now apply a cyclical agricultural no growth PE of 8.5 and you get fair value of $1.49. Anyone paying more than that has really bought into the manuka honey hype in my opinion.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Leaving the Chinese with a sour taste for paying $10.00+ for their shareholding!
Ouch!
Analysts have also queried Comvita's move away from the unofficial grey trading channel into China — the channel that propelled it into the limelight in the first place.
Wilson says Comvita's experience is in stark contrast to fellow premium Chinese consumer play a2 Milk, for which daigou remains an important platform.
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Originally Posted by voltage
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