Comvita reported a net loss due to challenging China trading conditions and higher inventory.
Comvita reported a net loss for the year, attributing it to challenging China trading conditions. The loss included $10.8m in non-recurring items and non-operating costs after tax, lower sales affecting ebitda by $5.5m, and higher finished goods inventory. The company's net debt ended at $79.7m, with inventory at $138m. An independent expert was consulted for potential impairment advice, which could further negatively impact the 2024 net profit.
July 28, 2024
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