Comvita - CVT

[BlackPeter]

That's a nice update: https://www.nzx.com/announcements/374554

Comvita reports record breaking 618 (18th June) sales in China

...

Comvita’s total sales through the festival increased +31.0% on last year reflecting a strong growth in consumer awareness and demand for the Comvita brand, particularly given that the overall honey category sales were relatively flat year on year. Comvita also made the Tmall Top 10 brands in the healthy food category and was the leading International brand in this prestigious list reflecting the fact that Comvita is being recognised more and more as a broader lifestyle brand.

Commenting, David Banfield Group CEO said “I am delighted that our team have been able to deliver such a strong result in the second most important shopping event in China. This performance continues to offset the headwinds experienced in the ANZ Daigou market. We believe that our unique and differentiated business model, and longer-term strategy is starting to show signs of momentum and is helping us build long-term resilience.”

Glad to hear that honey sells better than milk in China :

[sb9]

Comvita reports record breaking 618(18 June) sales in China

Comvita is pleased to report that it was the leading brand in the category in the recently completed 618 shopping festival in China, outperforming all other Mānuka honey brands on the two leading e-commerce platforms Tmall and JD.com.
Comvita’s total sales through the festival increased +31.0% on last year reflecting a strong growth in consumer awareness and demand for the Comvita brand, particularly given that the overall honey category sales were relatively flat year on year. Comvita also made the Tmall Top 10 brands in the healthy food category and was the leading International brand in this prestigious list reflecting the fact that Comvita is being recognised more and more as a broader lifestyle brand.
Commenting, David Banfield Group CEO said “I am delighted that our team have been able to deliver such a strong result in the second most important shopping event in China. This performance continues to offset the headwinds experienced in the ANZ Daigou market. We believe that our unique and differentiated business model, and longer-term strategy is starting to show signs of momentum and is helping us build long-term resilience.”
Comvita has a unique ‘End to End’ business model with around 350 people employed in markets outside of New Zealand to ensure that Comvita is better connected to customers and consumers in market and is able to adapt at speed to meet local market changes and needs. A particular strength of this model has been evidenced in Mainland China and Asia where Comvita has been able to offset the impact of the challenges in the Daigou market in Australia and New Zealand. This model also enables the business to continue to perform strongly even with travel and tourism being so restricted.
Comvita retains its full year guidance and as previously reported intends to resume dividend payments when announcing its FY21 results.

[percy]

Encouraging has been their ability to adapt their business model successfully away from the ANZ Daigou market,which I see as making their future a lot more secure.
Pleasing noting a divie is not too far away.

[sb9]

"Dividend resumption", such a soothing tune to ears. Hopefully sp can march into new uptrend from hereon...

[winner69]

Well done Blur the Lines - great effort

http://nzx-prod-s7fsd7f98s.s3-websit...675/349145.pdf

[nztx]

Well done Blur the Lines - great effort

http://nzx-prod-s7fsd7f98s.s3-websit...675/349145.pdf

wonder how much CVT's perceived better fortunes will help MEE spinning along post-Cap-Raise in CVT's slipstream .. ?

[Habits]

"Dividend resumption", such a soothing tune to ears. Hopefully sp can march into new uptrend from hereon...

Yes me too and I think it is... recent high 3.60 is next target, after that SP will move to 4.00

[TheJudge]

SP seems to be consistently hitting some sort resistance at $3.50. I wonder who would be selling at this stage? The interim financial statements are due soon.

[TheJudge]

Does anyone know when the interim financial statements are released? Last year July 17th. Thought it could be similar this year? Any other news out there?

[winner69]

Does anyone know when the interim financial statements are released? Last year July 17th. Thought it could be similar this year? Any other news out there?

I think the annoucement of June 25th (record June sales and retaining guidance) is all we will get before the year's result is announced late August

So patience needed


You never know though - they might have surprised themselves and there will be a monster upgrade ....but you would think they knew the full years result on the 25th June