New Zealand's Comvita falls after missing FY24 estimate

Comvita

29/07/2024 01:08

** Shares of Comvita  CVT.NZ  fall as much as 9.8% to
NZ$1.1, their lowest levels since July 12
    ** Stock posts its biggest intraday pct fall since May 30
    ** The nature health products manufacturer posts unaudited
FY24 revenue of NZ$204.5 mln ($120.45 mln) vs forecast of NZ$211
mln to NZ$218 mln
    ** Says FY24 EBITDA (excluding ERP and non-operating costs)
of NZ$17.1 mln vs outlook of NZ$23 mln to NZ$28 mln
    ** Stock has fallen ~47% this year, as of last close

    ($1 = 1.6978 New Zealand dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))