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Thread: Comvita - CVT

  1. #1
    Reincarnated Panthera Snow Leopard's Avatar
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    Default 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?
    om mani peme hum

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    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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    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\"

  4. #4
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    I buy their toothpaste.

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    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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    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.

  8. #8
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    om mani peme hum

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    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 !!!

  10. #10
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    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.

  11. #11
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  12. #12
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    A P/E of over 25 is extremely high for a small company like CVT , for any company for that matter in my opinion so you would need to be totally convinced about their future earnings potential

    I think that it is a company that appeals to quite a number of people and as there are not too many shares to be had I feel that the price has been bid up above what would be a "normal " price for a share in similar companies , although because of its unique nature comparisons would not be easy

    I took some CVT up at the public offering but sold out when I felt the price had reached quite a bit above what could be justified

    Having said that the long term prospects for the company may be okay , if you are prepared to wait
    It is the high P/E that puts me off

    Do your homework
    My opinion is just that , an opinion --- time will tell
    Time is the great revealer

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    I purchased a small-holding in Comvita late June/early July of this year.

    To my mind many of the agreements they have entered into of late show that their earlier endeavours were not in vain. With increased access now negotiated, the signals for the future continue to improve.


    They are never going to set the world alight with the dividends, but as well as the generally positive vibes attached to their recent market announcements, they have plenty of upside potential from a weakening exchange rate (it will weaken won't it?).

    The shareprice will often drift between announcements - an occupational hazard of being too small to show on the radar for many market observers. Keep an eye out for an attractive entry point, and you too could soon be in the <s>honey</s> money...no guarantees mind.

    Regards JAMP
    NZX: AIA CHA LPL MCH MVN NOG PPG RBD SAN SKX SPN
    NZAX: CVT
    Unlisted: BRK

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    Jamp - wonder if a portfolio reflects its owner

    You seem to be a fish and chip person with the odd pizza and chipsd thrown in for a change washed down with orange juice (as the billboard says there's no P in Charlies) ..... and then to fix the neglected body need a good dose of Comvita from your local Lifestyle Pharmacy.

    “Just consider that maybe the probability of you being wrong is higher than you think.”

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    W69 this would be a good time for you to list your holdings for old times shake.. [8D]

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    W69, I too "wonder if a portfolio reflects its owner". I guess it does to an extent...although the pizzas I consume are hand-made.

    CVT FY announcement to 31/12/05 now due. I have been keeping an eye out for it for the past two days, so maybe tomorrow! My expectations for the result are reasonably modest. However, my expectations for FY 31/12/06 announcement in 12 months time are a lot higher. I expect this company to be buzzing about the prospect of further softening in the TWI.

    Regards JAMP
    NZX: AIA LPL MCH MVN NZO NZOOD PPG RBD SAN SKL SPN
    NZAX: CVT NWFOA SAT
    Unlisted: BRK

  17. #17
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    I'm suprised there isn't more discusion about this stock.
    Its a great little company.

    If phaedrus were able to complete a chart, evidence would suggest the trend is now your friend.

    Also, the registry is very tight with only 13m shares on issue, if they get up a bit of steam the price could rocket. as Jamp says FY06 will be they key to getting the s/p really moving.
    “If you're worried about falling off the bike, you’d never get on.”

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    Interesting response to what was an excellent profit announcement.

    Comvita seems to have a good sales channel and improving prospects and trades at a historic low. No wonder people avoid the sharemarket.

  19. #19
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    Default CVT Chart

    CVT is in an ongoing downtrend and has been for over 18 months, so far. What's worse, there is no sign of the downtrend weakening - in fact it is accelerating.

    A selection of indicators are shown here with their associated Buy signals marked by green arrows, Sell signals red arrows. All of these got you out of CVT before the downtrend began. It is clear that none are anywhere near triggering buy signals.

    The chart also features a 200 day moving average. These are commonly used by conservative, long-term investors, to keep them on the right side of major trends. Even this very slow ma signalled an exit before the downtrend began.

    Note the abrupt "step" in the OBV plot. These often mark where the "smart money" sells out. Didn't they do well?



    Once a "great little company" - now in a great big downtrend!

  20. #20
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    Will be interesting to keep watching. After all any company improving sales and profits in this enviroment deserve a bit watching brief. Will keep my powder dry for later. Still expect Comvita to be a good performer when they finally change direction.

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