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Comvita posts strong Q1 performance


Grant
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Mānuka honey company Comvita says trading has continued to improve in the first quarter of its new financial year as it seeks to turn around its performance after two years of losses.

Chief executive David Banfield, who took over in January, told the company’s annual meeting in Paengaroa on Thursday that Comvita had a “strong” start to the new financial year, which commenced on July 1.

 

WWW.STUFF.CO.NZ

Honey company will pay back its wage subsidy when it returns to 'reporting on a profitable result'.

 

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Prime example of the corporate conscience at work, think of an out with the media and go with it boldly - even when it defies common sense - how many years will it be before they run out of ways to hide any profit - can see the apprenticeship program suddenly becoming a very expensive operation to run.

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Looking to me, like the new guy, Banfield, could be on the right track.

 

In the past, it was astounding how a company in an industry that should have been wildly profitable, could have dismal results. From reading the media, plus experience with some of their guys on the ground, it seemd to me anyway, that incompetence in the company was endemic, from the bottom, to the top.

 

The rot started when they decided the whole thing could be run from a champaigne filled boardroom, and they ditched Claude.

 

Although they did have some areas of high competency and innovation, but that was not enough to tip the scales.

 

I think Banfield has some good ideas. The grassroots of the company is beekeeping, and if they can get that properly organised, as well as the rest of the company management, maybe they can turn around.

 

Might even be the right time to buy some shares? Target nine bucks?

Edited by Alastair
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