New Zealand's Comvita returns to profit on margin recovery, lower operating costs

Comvita

27/08/2026 21:49

Overview
New Zealand natural health firm's FY26 revenue rose 10.7% to NZ$213 mln
Company returned to profit with NPAT of NZ$7.7 mln
Improved operations, inventory normalization and recapitalisation strengthened balance sheet

Outlook
Comvita targets 42% cuts in Scope 1 and 2 emissions and purchased-goods Scope 3 emissions by 2030
The SOOTHE programme will commence its second Mānuka honey gut-health clinical trial in the US in FY27
Comvita aims to maintain or improve its more than 6,400 hectares of Mānuka forests in FY27

Result Drivers
NORTH AMERICAN CLUB RETAIL – Revenue growth was led by U.S. club-retail volumes, with North America sales rising to NZ$58.7 mln from NZ$28.7 mln
MARGIN RECOVERY – Manufacturing efficiencies, inventory utilisation, favourable honey procurement and higher-volume absorption lifted gross margin
LOWER OPERATING COSTS – Operating expenses fell 10.7%, or NZ$12.2 mln, on a more efficient cost structure and lower ERP and transformation spending

Company press release: ID:nNZS73ma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
NZ$213 mln
 

Analyst Coverage
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
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Aug 25 - China's H&H International half-year revenue rises, profit surges on margin expansion 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)