NZ's Comvita tumbles to over 3-year low on lower revenue forecast

Comvita

27/11/2023 24:48

** Shares of Comvita Ltd  CVT.NZ  slide as much as 8.8% to
NZ$2.70, their biggest pct loss since May 14, 2020, if current
trend holds
    ** Food processing firm forecasts its half-year revenue will
be adverse to pcp by up to 5%  
    ** Sees EBITDA after enterprise resource planning (ERP)
investment for the interim result to be down 20% vs pcp
    ** Expects demand in its main market China to be recovering;
retains FY25 forecast  
    ** Stock up 48.6% this year as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))