Comvita achieves record profit

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Comvita's Scott Coulter. Photo/supplied
Comvita's Scott Coulter. Photo/supplied

Comvita has recorded a record result this year, with an after tax profit of $17.2 million.

The profit comes on sales of $202m, compared with an after tax profit of $10.2m on sales of $153m for the tax year prior.

Comvita chairman Neil Craig said it was important to not that because the balance date had changed to June 30, today's announcement was an unaudited 12 month comparitive result.

Mr Craig said the June quarter was typically the quiestest quarter due to seasonality of sales, hence the 15-month operating result of June 20, 2016 was likely to be similar to the result reported for the 12 months to March 31, 2016.

Comvita ceo Scott Coulter gave credit to his managment team and staff for their dedication, hard work and commitment to execution of company strategy.

''We are continuing to build scale and increase our sales base, resulting in our profits growing faster than out increawses in sales, clearly demonstrating operationsal leverage in our business models.''

- Bay of Plenty Times

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