Quote Originally Posted by Beagle View Post
ANYTHING this company says about the future needs to be read with deep scepticism and being fully cognisant of their multiple wildly missed forecasts in the past.
i haven't been following their reported value of assets held since a few years ago, however, two points should be checked by anyone looking at buying:


  1. The market value for beehives spiked from a couple of hundred dollars up to a thousand dollars over a short period a few years ago when there were loads of people trying to start honey/beekeeping businesses. There are now large numbers of hives available for under $200. What do comvita value their hives at?
  2. A year or so back the rules around what could be exported as "manuka honey" changed, resulting in a massive devaluation of many held honey inventories. There are literally thousands of tonnes of honey in drums in NZ at the moment, with producers unable to find a wholesale buyer at a price above the cost of production. How is comvita valuing their honey inventory?


Their reported NTA is $2.20, it would be interesting to see whether considering the above two points would bring their NTA nearer $1