NZ's Comvita hits 17-mth high on Q1 earnings jump

Comvita

11/10/2021 04:26

** Shares of Comvita Ltd  CVT.NZ  jump as much as 3.3% to
NZ$3.77, their highest since May 22, 2020 
    ** CVT, which manufactures and markets honey and other
health products, says EBITDA for Q1 FY22 rose 10.6% y/y
 urn:newsml:reuters.com:*:nNZW8wQjjy
    ** Says jump in EBITDA recorded despite COVID-19 related
shipping delays and increase in brand investment
    ** Maintains FY operating EBITDA in range of NZ$27 mln to
NZ$30 mln ($18.71 mln-$20.79 mln)
    ** Stock posts its biggest intraday pct gain since Aug. 26
    ** More than 103,000 shares change hands, vs the 30-day
average volume of ~51,000 shares
    ** CVT stock up 15.9% this year, as of last close 


($1 = 1.4428 New Zealand dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))