Business

Record profit reported by health and beauty company

21:15 pm on 23 May 2012

Comvita has reported a record full year profit, as sales picked up in its key markets.

The natural health and beauty products company made $8.2 million in the year to the end of March, compared with $500,000 in the previous year.

Revenue rose 17% to almost $96 million, with sales rising 13% in Australia and New Zealand, and 31% in Asia.

However, British and European markets remain subdued, due to economic uncertainty there.

Chairman Neil Craig says it's a very pleasing result, given Comvita had to deal with the distraction of an unwelcome takeover offer from Cerebos.

Comvita will pay a dividend of 14 cents per share, up from 3 cents in the previous year. Shares in Comvita were up 25 cents to $3.15 on Wednesday.

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