CVT-Comvita

[Basil]

Said it many times before and once more now. This is a NO growth agri stock that deserves to trade on no more than 8 times average earnings.
DYOR on measuring average earnings but I would be inclined to average the last 7 years.

[Mos]

Said it many times before and once more now. This is a NO growth agri stock that deserves to trade on no more than 8 times average earnings.
DYOR on measuring average earnings but I would be inclined to average the last 7 years.

And there are no earnings according to Management's H1 forecast. Hmmm, can see why they got growth strategy of the year award. 

[winner (n)]

David been spruiking Comvita for years but has never managed to find a keen suitor .....betcha he now wishes he had because if one comes to the rescue now it's not going to be for very much.

Recall May 2022 he raved in the media that Comvita ticked the boxes as a takeover target .....undervalued with solid prospects and one that had a strategic review (ie cleaned up a mess)


Quote David from Business Desk ....  "We recognise that the current share price materially undervalues Comvita, even if just looking at FY22 guidance, let alone the opportunity we see ahead reflected in our 2025 strategic plan," Banfield said.  The stock last traded at $3.30, up 1.9% over the past year.  "Our current trading earnings multiple is again materially below other benchmark growth companies – which is especially unusual given how much we have simplified, executed our plans and reduced risk in the business."


My bet ......if not acquired soon Dave won't be there next year

[Shareguy]

It was looking sad some time ago and then insiders selling was another warning. It might even test decade low of $1.57.

[Mos]

I see your point winner. He was looking for a lucrative exit before the shit hit the fan. Good enough for growth strategy of the year though 😆

[Basil]

It was looking sad some time ago and then insiders selling was another warning. It might even test decade low of $1.57

All time low is 81 cents, probably all it's really worth.

[winner (n)]

All time low is 81 cents, probably all it's really worth.

Didn't you once sell some over 10 bucks ......after I suggested you look at the state of their cash flows

[Sideshow Bob]

All time low is 81 cents, probably all it's really worth.

Apart from the Covid selldown in early 2020, trading at lowest levels since 2011.

Ouch.

[Teitei]

Asked a beekeeper in Gisborne a few weeks ago and he said that the industry is sitting on several years' stock of low quality manuka honey but low stock of high quality manuka honey (ie. UMF >15).

Was at Costco just the other day and saw Egmont Honey UMF 10+ (1 kg) on special at $59.95. Was rather surprised as most of the heavy discounting in the market have been for the low grade UMF 5 and multi-flora manuka honey.

Sign of the times.

The alarm bells rang loud and I am pleased I listened to them!

And Costco is still selling seemingly unlimited amount of manuka honey at heavily discounted prices!

Latest is Puriti UMF10+ manuka honey 1 kg jar for $34.99.

Compare that price with Comvita's UMF10+ at $114.90!

Sp has a long way to fall - like its manuka honey pricing.

Ouch!

[winner (n)]

Comvita reports first half loss

No worries though as per release -

Comvita chair Brett Hewlett said he could empathise with the feelings of surprise and frustration in the current share price expressed by many shareholders.

"I do want to reiterate that our market share and underlying performance remain positive, our prices and margin are stable, and I believe that we are still on track to deliver our FY25 strategic plan once consumer confidence in China returns.

[Shareguy]

Comvita reports first half loss

No worries though as per release -

Comvita chair Brett Hewlett said he could empathise with the feelings of surprise and frustration in the current share price expressed by many shareholders.

"I do want to reiterate that our market share and underlying performance remain positive, our prices and margin are stable, and I believe that we are still on track to deliver our FY25 strategic plan once consumer confidence in China returns.

Gosh Brett's choice of words are interesting "surprise and frustration" at share price, yet he sold down 120,000 shares. Are we really surprised. Still on track for FY25 plan , even Craigs latest note is sceptical.

[winner (n)]

Gosh Brett's choice of words are interesting "surprise and frustration" at share price, yet he sold down 120,000 shares. Are we really surprised. Still on track for FY25 plan , even Craigs latest note is sceptical.

He's spent too much time with Raving Dave

Don't forget they won Best Growth Strategy Award recently

[BlackPeter]

He's spent too much time with Raving Dave

Don't forget they won Best Growth Strategy Award recently

Ouch ... but good point!

[Sideshow Bob]

https://www.nzx.com/announcements/426680

Non Binding Indicative offer received......

[winner (n)]

https://www.nzx.com/announcements/426680

Non Binding Indicative offer received......

That would have made Dave's day ....been working on finding a buyer for a few years now.

I think Board are predisposed to selling so might not play hard ball to any degree

Wonder what Chinese share holder saying about this ...might make him front up