28 Jul 2012

Comvita's annual sales top $100m for first time

7:30 pm on 28 July 2012

Comvita says rolling annual sales have topped $100 million for the first time in the company's 38-year history.

From July last year to the end of June 2012, the listed natural health and beauty products company recorded sales worth $102 million.

Chief executive Brett Hewlett says the firm has been growing by 20% annually for the past five years and experiencing strong demand in its domestic, Australia and Asian markets.

He says it will be a long time before the company exhausts the growth potential in China, which is its main focus, although it has also been doing a lot in Korea - one of its newest markets - and growing rapidly in Japan.

Mr Hewlett says possibilities are also being explored in places like Thailand, Indonesia, Malaysia and India.

He says Australia is Comvita's biggest single market and is still growing.

"US, we're dipping our toes there cautiously and starting off with a fairly low-cost direct-selling model through the internet, and I think that could also represent some significant growth."

Mr Hewlett says Comvita has a niche premium offering so to some extent it is less exposed to the more price-sensitive end of the market.