Comvita - CVT

[Balance]

it is on my mind..that CVT won't have a another better year., sold out at 3.45..looks a bit too early but.., look back the announcement., i think i had make a good decision

Problem with Comvita for a long time now is inconsistency of sustainable earnings.

One year good, next year bad.

Read their half year announcement :

www.nzx.com/companies/CVT/announcements/230024

The following comments painted a very optimistic picture then of the year ahead :

" We remain confident that the company will deliver an increase in earnings for the full year. NPAT for the full year ending March 2012 was $8.224 million on sales of $95.9 million."


"The growth of our business year to date in our key Asian markets is especially pleasing and this will be fully reflected over the coming months as we enter the peak season in these Northern Hemisphere countries."

Assuming the market was pricing in 15% growth in NPAT, the $7m forecast now represents a 27% profit downgrade.

Ouch!

[golden city]

getting too predictable

[Balance]

getting too predictable

And Neil Craigs as a long time experienced sharebroker and investment banker should know better.

Will be another downgrade in the year ahead - almost inevitable.

[Vaygor1]

Sounds like another company starting with an R and ending with f)*&&(@%* (for shareholders that is...)

I agree. CVT's overhype smacks of RAK.
They actually have a great opportunity to grow given their market.
I just wish they included less BS in relaying their future prospects to the market.

From their recent announcement:
"...industry wide supply shortages and unexpected increases in prices for key ingredient...

"The accumulated effect of two successive years of poor honey harvest..."

"The full extent of the increases in purchase price only became
apparent during the latter part of the year."

So this "industry wide" shortage and "two years of poor honey harvest" is producing an outcome that only just "became apparent"?

Codswallop.

[Vaygor1]

It has been a bit quiet on this thread lately. No posts for over 2 weeks.

Sarah Ottrey was appointed as a director of CVT in November last year. She has recently acquired (or added) a small holding in them. Refer https://www.nzx.com/companies/CVT/announcements/233792

Also one of the reasons behind why I think CVT has large potential growth prospects are detailed here:
http://www.med.govt.nz/sectors-indus...y-industry.pdf

I find the whole report interesting reading. Pages 46 to 50 in the report interests me with the analogy between potential NZ honey branding/QAQC standards with Scottich Whiskey. Can/will the government ever legislate to help protect NZ's honey brand? Who's driving it?

[ratkin]

http://www.nzherald.co.nz/business/n...ectid=10871028

Good news regarding honey supply

[Lizard]

Result at top of forecast range and looks reasonably solid with good reasons for improvement in coming year (better honey supply, olive leaf prospects, perhaps more favourable forex). Seems reasonably good buying here at $3.85 - I have 12 month target of $4.50 with perhaps 16cps in divs. However, I have them more in mind as a long term hold given an overall growth trend - their record is a little more unpredictable in the short term.

[Vaygor1]

Result at top of forecast range and looks reasonably solid with good reasons for improvement in coming year (better honey supply, olive leaf prospects, perhaps more favourable forex). Seems reasonably good buying here at $3.85 - I have 12 month target of $4.50 with perhaps 16cps in divs. However, I have them more in mind as a long term hold given an overall growth trend - their record is a little more unpredictable in the short term.

My view replicates yours Lizard. Looking at the nzx, CVT is not a very liquid share by any measure. The frequency of posts to this thread (ie few and far between) is also a testament to that. If they can generate more interest in the nzx and hence buyers/sellers I would expect a modest sp increase for this reason in addition to any increase attributable to company performance.

[Vaygor1]

Dividend payment this month is 9c/share making a total of 13c/share fully imputed for the financial year.
Payment date is 28 June 2013.
According to Direct Broking (of which I am not a member), CVT are still Cum Dividend.

I cannot find any information regarding the record date in any CVT's announcements, or on ASB Securities, or on the NZX website.

I have found the Record Date of 19-June-2013 on this website:
http://portfolio.sharesight.com/tools/dividends/NZX

Seems to be a very short timeframe between the record date and the payment date compared to most NZX companies.
Can anyone verify and/or provide a link with official info?

[Lizard]

Yes, ex-div is 19 June according to NZX website: https://www.nzx.com/markets/NZSX/securities/CVT

(scroll down to "upcoming dividends" just below the chart).