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Comvita - CVT
Reading the Fisher Funds October newsletter I notice that they have added Comvita (on the NZAX) to their NZ Growth Fund Portfolio.
Comvita sell natural health care products based on bee related stuff such as honey etc.
The results for the year are now expected to be $1.1 giving a P/E of 26.6, lower than expected due to the delayed introduction of product and the strength of the NZ$.
Going forward I would expect some improvement in profit in the next year and can see that things could expand nicely with time.
Personally given what I currently know (not much) about these guys I would put them on the watchlist for a while and dig a little deeper
Anyone have any opinions/information on this company?
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Member
PaperTiger, I am interested too but I don't know too much about them. They seem a bit expensive and capital consuming from what I can see.
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Member
PE 26.6 is pretty high.
Cant see $NZ coming back.
Which country does comvita export to?
They have quality products, but cost more. Mainly trourist buys it.
This stock shines so bright that it \"Bling Blings\"
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Junior Member
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Junior Member
CVT recently announced a profit warning saying 2004 NPAT would be same as 2003, due to higher NZD and delayed product launch. From memory, revenues had grown ~20%p.a. last 5-7 years, but that was on back of first overseas expansion - would it slow? Agree with k1w1 too about capital requirements - ROE was poor: couple of rights issue pre listing, big raising earlier this year, and a DRP. My conclusion was that it had reasonable growth potential but it was largely in the price. i.e. repeat of 2003 NPAT of 1.15m = eps of ~9cps. Pe of 25. Fisher Funds can have them!
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Junior Member
PT, their website had lots of info: www.comvita.com
A lot of their products seemed a bit nutty to me
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Their Manuka honey with UMF is very popular in Australia. Apparently, for healing burn wounds - it is very effective.
Aussies are shelling out big $$ for this special honey.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
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Member
quote: Originally posted by k1w1
PaperTiger, I am interested too but I don't know too much about them. They seem a bit expensive and capital consuming from what I can see.
Gotcha !!!
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Junior Member
I have been interested in Comvita for some time. When they announced they were moving to the main board their price went up until it doubled...making it unrealistic. I use some of their products which are good and their premises are impressive and their displays well worth seeing. They are in a business that is said to have a future. They do some things that look right, but the shares have been tightly held and hard to buy at an attracctive price. At times they look as though they could do with more hard business experience, but I wouldn't like to be too hard on them, because some of the things they have done have been sensible and, if they can just get their act together a little more smoothly, the future could be good.
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