CVT-Comvita

[winner (n)]

Share price up to 365 on takeover ...wow

Dave will be happy ...his raves finally worked

At least with this offer I reckon Board are conducive to actually selling ...not like other recent offers

Over 4 bucks

[Crackity]

Share price up to 365 on takeover ...wow

Dave will be happy ...his raves finally worked

At least with this offer I reckon Board are conducive to actually selling ...not like other recent offers

Over 4 bucks

$2.65 winner

[winner (n)]

$2.65 winner

Yeah.  ...just too excited

[Shareguy]

CVT has inventory or $2 per share, tangible NTA of NZ$2.60 per share and a book value of NZ$3.30 per share ...

[Auto Rower]

Could be a good deal for shareholders after what has happened to The sp recently.
 I think a lot of nz companies are at all time lows & ripe for foreign intervention /takeovers .
 Can anyone tell me why they did not do a trading halt !!
 Apart from wanting to pump the price up of course

[Basil]

CVT has inventory or $2 per share, tangible NTA of NZ$2.60 per share and a book value of NZ$3.30 per share ...

Maybe so mate but based on average earnings with this no growth highly problematic cyclical company its not worth anything like that "as is" remaining listed on the NZX.  On the other hand, under a takeover, you clean out a lot of old dead, overpaid and useless wood, add management who know what they're doing and its probably a good deal for everyone including the acquirer.  Their wildly inaccurate forecasting has been absolutely disgraceful over the years.

[winner (n)]

Another profit downgrade ...quite high this one

Forecasting not a strong point

Still working on takeover offer

Don't forget they won Best Growth Strategy at some do a few months ago

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CVT/431303/418731.pdf

[Left Field]

Generous takeover offer not proceeding........(say no more!)

https://www.nzx.com/announcements/432051

"On 22 February 2024, Comvita Limited NZX:CVT (Comvita) advised that an offshore party approached Comvita with a highly conditional, unsolicited, indicative, non-binding proposal to acquire all of the shares in Comvita (Proposal). The Board of Comvita advises that the party has now advised that it will not proceed with the offer. Chairman Brett Hewlett said: "The Board considered the Proposal worthy of careful consideration due to the significant premium to its share price and the credibility of the party."

[Shareguy]

Directors selling for so called tax reasons and all downhill since then.

At market close share price $1.38. FY25 forecast earning from Craig's EPS $0.068 is a PE of 20.

How many millions has been spent I wonder on the interested party who did not make an offer in the end.

Expensive even at a $1.00 for a no growth company is how I see it.

It's time for breakfast. UMF 10 certified NZ honey that I purchased for $10.00 from a desperate seller on crumpets. 

[Teitei]

Directors selling for so called tax reasons and all downhill since then.

At market close share price $1.38. FY25 forecast earning from Craig's EPS $0.068 is a PE of 20.

How many millions has been spent I wonder on the interested party who did not make an offer in the end.

Expensive even at a $1.00 for a no growth company is how I see it.

It's time for breakfast. UMF 10 certified NZ honey that I purchased for $10.00 from a desperate seller on crumpets. 

Writing has been on the wall for a while regarding manuka honey.

When producers took turns and started selling 1 kg of UMF10+ manuka honey at Costco at ever decreasing prices from early 2023, it was clear that the industry was in trouble.

[Left Field]

Profit downgrade

https://www.nzx.com/announcements/435174

GLH's

[Gerald]

Lots of non-recurring costs. Not sure if organisational restructuring costs are fair if you have guided to cost reductions from those but no worries.

$10-$15m also seems ambitious, wonder why those costs were sitting around before 

Net debt/EBITDA getting up around 5 got to be getting close to covenants, might be a slightly sticky situation for some. Only $13m cash at the HY, that has got to be getting very low.

[BlackPeter]

Profit downgrade

https://www.nzx.com/announcements/435174

GLH's

Not sure I would call that "downgrade". This is the unaudited result and - lets face it - it is an unmitigated disaster. Not very likely that the auditor going to find some millions to improve the result.

Chinese market in tatters, Manuka brand rapidly losing value, market is flooded by discounted Manuka honey, general honey market down all over the globe - and their major asset are several years worth of unsold Manuka honey in some store facilities.

Good luck with that!

On the other hand ... old Palestinian proverb says "if Apricots are cheap, plant Apricot trees."

Maybe soon time to buy into the honey market?

[Basil]

As cautioned above several times, I think it's a high risk no growth agricultural company that deserves to trade on a PE of 8 times average earnings.
The problem for shareholders is inclusive of all write-downs the average eps for the last 6 years has been a loss of 10 cents per share.  (Source Jarden website eps figures for the last 6 years).  Holders might like to consider running for the hills before they get "stung' far worse.

[winner (n)]

Hey Basil .... Good call you sold CVT above 10 bucks a few years ago

Glad you listened to me at the time I said it was a dog and 10 bucks plus was just ridiculous.