Brief: Comvita Sees FY24 EBITDA (Excluding Erp Costs) To Be NZ$30M To NZ$35M

Comvita

21/02/2024 01:22

Feb 21 (Reuters) - Comvita Ltd  CVT.NZ :
    * FY24 EBITDA (EXCLUDING ERP COSTS) IS FORECASTED TO BE
NZ$30M TO
NZ$35M
    * DECLARED A FULLY IMPUTED INTERIM DIVIDEND OF 1 NZ CPS
    * H1 FY24 EBITDA (EXCLUDING ERP COSTS) NZ$9.5M, DOWN 32%
VERSUS
PCP
    * FY24 REVENUE IS FORECASTED TO BE NZ$225M TO NZ$235M
    * COMVITA EXPECTS A STEADY IMPROVEMENT IN CONSUMPTION
THROUGH
SECOND HALF
    * FY OUTLOOK DRIVEN BY REDUCED CONSUMER DEMAND, MOST NOTABLY
IN
CHINA
    * IDENTIFIED NZ$8M OF SPECIFIC COST SAVINGS TO BE MADE IN H2
FY24
    * FOCUSED ON RETURNING TO CONSISTENT GROWTH ONCE TRADING
CONDITIONS NORMALISE
    * REMAINS COMMITTED TO ITS FY25 STRATEGIC PLAN TO DELIVER
EBITDA
OF C. NZ$50 MILLION
    * REMAIN COMMITTED TO DELIVERING COST REDUCTIONS IN H2

Source text for Eikon:  ID:n426525-6 
Further company coverage:  CVT.NZ 

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