New Zealand's Comvita rises most in over six months on upbeat outlook, demand

Comvita

02/05/2023 01:36

** New Zealand's natural health products maker Comvita Ltd
 CVT.NZ  rises as much as 2.8% to NZ$2.90, its biggest intraday
jump since Oct. 26
    ** Says gaining market share due to good demand in key
markets; forecasts a record Q4
    ** Says record Q4 to enable it to achieve FY23 guidance, and
keep it on track to deliver FY25 EBITDA target of NZ$50 mln
($30.85 mln)
    ** Notes strength of forecasts from markets for delivery in
4Q23 and initial indications of strong forecast demand
continuing into 1Q24
    ** CVT at its highest since April 19; on track for a second
straight session of gains
    ** CVT down 12.12% this year as of last close

($1 = 1.6207 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))