CVT
20/04/2015 11:32
FORECAST
PRICE SENSITIVE
REL: 1132 HRS Comvita Limited
FORECAST: CVT: Comvita Will Comfortably Achieve Guidance
In November 2014 at the time of the renounceable rights issue, and again in
December 2014 in our interim report, Comvita gave guidance on the outlook for
the full year.
At that time we stated for the year through to the end of March 2015, sales
are forecast to be $142.5 million, a 24% increase from $115.3 million in the
prior year and the company forecasts NPAT of $9.5 million, a 25% increase
from $7.6 million in the prior year.
Comvita wishes to reconfirm that it will comfortably achieve those forecast
numbers when it formally announces its audited results on May 22, 2015.
A more detailed update on the Comvita business is provided in the attached
Investor Update, in which we make the following, forward-looking statement:
'Comvita has good sales growth momentum carrying into the new fiscal year.
The business infrastructure is geared to meet the demands of another growth
year. The honey supply situation is looking relatively stable and growing at
least in line with our short to medium term sales forecasts. Our outlook is
for another good year of both sales and earnings growth.'
#End#
For further information or queries:
Comvita CEO, Brett Hewlett, 021 740 160
Comvita Chairman, Neil Craig, 021 731 509
Comvita Communications Manager, Julie Chadwick, 021 510 693
Background information
About Comvita (www.comvita.com)
Comvita (NZX:CVT) is a global natural health company committed to the
development of innovative products, backed by ongoing investment in
scientific research. We are the world leaders in Manuka (leptospermum) honey
and fresh-picked Olive Leaf Extract, which are at the core of the Comvita
product range.
We have approximately 50% of honey supply under direct ownership or control,
with the balance of supply from long term contractual and partnership
arrangements. Comvita pioneered the development and use of medical grade
Manuka honey and was the first to receive FDA approval (2007). We partner
with US wound care company Derma Sciences, Inc. (NASDAQ:DSCI), the global
licensee for Medihoney specialist wound care products, which are used in
hospitals and medical centres around the world. Comvita's freshly picked
Olive Leaf Extract is grown, harvested, extracted and bottled at the world's
largest specialised olive leaf grove, with over one million olive trees.
Comvita sells into more than 18 countries through a network of our own
branded retail locations, online (seven country specific e-commerce websites)
and third-party outlets. We have over 500 staff located in New Zealand,
Australia, Hong Kong, Japan, Taiwan, South Korea, the United Kingdom and the
USA.
End CA:00263289 For:CVT Type:FORECAST Time:2015-04-20 11:32:51
