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Comvita Ltd Lowers FY 2013 NPAT Guidance
Comvita Ltd announced that the Company is lowering its earnings guidance for fiscal 2013 mainly due to industry wide supply shortages and unexpected increases in prices for key ingredient, Manuka honey, and more difficult trading environments in the United Kingdom and Australia.The Company now forecasts net profit after tax (NPAT) of approximately NZD 7 million for fiscal 2013. This compares to its guidance in November 2012 at the half year result, when the Company noted it was confident of improving NPAT year-on-year. In fiscal 2012, NPAT was NZD 8.2 million.
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