Mānuka honey company Comvita has reported record revenue of $234 million in the financial year ended June 30, including more than $100m from China for the first time. Market share is now 60% of the Chinese market Sales income rose by 12% and net profit after tax was up 2.8% to $13.1m. However, net profit was down as the company spent more on technology upgrades. Comvita chief executive David Banfield says the record revenue performance was achieved despite material disruption including Covid reopening delays in China and the impact of the terrible weather during summer for the apiary division. He says that division broke even despite the major loss of honey extraction along the east coast from Cyclone Gabrielle.
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