Brief: Comvita Ltd Says FY23 Dividends Of 5.5 NZ CPS In Line With PCP

Comvita

22/08/2023 02:41

Aug 22 (Reuters) - Comvita Ltd  CVT.NZ :
    * FULL YEAR FY23 DIVIDENDS OF 5.5 NZ CPS IN LINE WITH PCP
    * REVENUE OF NZ$234M FOR YEAR
    * FY OPERATING PROFIT NZ$24M , UP 18.7%
    * COMVITA IS FORECASTING DOUBLE DIGIT EBITDA GROWTH IN FY24
    * EXPECTS TO DELIVER STRONG OPERATING CASHFLOWS AND A DOUBLE
DIGIT
REDUCTION IN INVENTORY IN FY24
    * MAKING STRONG PROGRESS ON DELIVERY OF  FOCUS 2025 PLAN
    * 2025 PLAN TARGETED TO DELIVER A 20% EBITDA MARGIN OF C.
NZ$50M
BY END OF FY25
    * ERP AND TRANSFORMATION INVESTMENT IS FORECAST TO FINISH BY
JUNE
2024
    * SEES INVESTING NZ$7M IN ERP AND NZ$3.5M IN ONGOING
TRANSFORMATION IN FY24

Further company coverage:  CVT.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))