Comvita is performing well. Photo / Janna Dixon
Honey-based healthcare products firm Comvita has performed strongly over the past year or so.
The company reported positive figures for the 2009-10 year with revenue climbing from $71 million to $85 million, net profit rising from $700,000 to $5 million and earnings per share leaping from 2.7c to 18c.
The
company prospered in the face of the global financial crisis and grew sales in all its markets bar Britain, where the recessionary climate, strong competition and the weak pound resulted in a virtual nil contribution from this market.
Also of note was the reduction in net debt from $30.3 million to $11.5 million, leaving the company with little gearing on the balance sheet.
The company expects to see sales grow in Asia, Australia and New Zealand over the coming year and, while the trading environment at home and in Australia remains difficult, it expects to see total sales and bottom line growth in 2010-11.
Goldminer looks strong
Australia's Newcrest Mining is the country's largest gold producer and one of the top 10 global goldminers by production, reserves and market capitalisation.
The company has a portfolio of low-cost, long-life operating mines and a strong pipeline of growth projects.
It has takeover plans for Lihir Gold, which are awaiting approval from Lihir shareholders at an August 23 meeting.
Newcrest said that if successful, the combined company would be the world's fifth-largest gold producer, rank fourth globally in terms of reserves of gold, silver and copper, and have combined gold reserves of 73.4 million ounces. These figures come at a time of record gold prices. For the June 2010 quarter Newcrest saw a 26 per cent rise in gold production to 526,131 ounces.
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