Comvita - CVT

**Balance** · 24-02-2021, 04:24 PM

https://www.nzherald.co.nz/business/...BNO2JVROHPD7I/

Paywalled

Scene is set for results announcement tomorrow - ‘new’ CEO sounds cautious but confident about the repositioning of Comvita away from being a weather, harvest & daigou dependent business.

Excerpt : ‘When David Banfield took over as chief executive in January last year, the goal was to produce sustainable earnings, year in and year out, irrespective of seasonal fluctuations.

The former Methven Group chief executive says that Comvita, which is due to report its first-half result on Thursday (February 25), has come a long way - the company was profitable in each of the consecutive 11 months up to and including November.

We have done an awful lot and there is an awful lot more than we will do."

**bottomfeeder** · 24-02-2021, 07:20 PM

Well this will be the test. A lot of positive news coming out over the last six months. But is there substance behind it.

**percy** · 25-02-2021, 08:51 AM

A very good result.
Had a good laugh at the David Banfield presentation.53 pages.Just like his ones at Methven.Long winded,but he is walking the walk, as well as his usual talking the talk.,.lol.

**bull....** · 25-02-2021, 09:21 AM

how much of the result was due to inventory sell down generated cashflow

**Habits** · 25-02-2021, 11:05 AM

Superb result on I think every angle

Dividends from full year but would have been good this period to reward the faithful congregation of shareholders

**Habits** · 25-02-2021, 11:09 AM

Originally Posted by bull....

how much of the result was due to inventory sell down generated cashflow

No i think that would have been recognised under COGS... The spinoff of lower stock comes with reduced holding costs, interest expense and obsolescence. I briefly read that gross sales margin is up 1068 bps... wow

**Not The Chosen One** · 25-02-2021, 11:18 AM

Originally Posted by Habits

Superb result on I think every angle

Dividends from full year but would have been good this period to reward the faithful congregation of shareholders

Yet the share price drops on great news while AIR have terrible news and the price increases....

**Balance** · 25-02-2021, 11:49 AM

Originally Posted by Not The Chosen One

Yet the share price drops on great news while AIR have terrible news and the price increases....

Great results so happy to add a few more before the institutional market gets interested.

Good presentation this morning too by the company.

**bottomfeeder** · 25-02-2021, 01:15 PM

Originally Posted by Not The Chosen One

Yet the share price drops on great news while AIR have terrible news and the price increases....

Its a crazy market these days. Too many pundits predicting a crash, yet RB keeping interest rates low for another two years. Big talk about 10 year bonds increasing, but only by miniscule amounts. The media just likes to promote any attention grabbing headlines.