25 Sep 2014

Comvita aims to boost manuka supply

6:51 am on 25 September 2014

Manuka honey business Comvita wants to increase its supply of the coveted product, it says.

The company already directly owns half of the beekeeping operations it needs.

Comvita is crediting its acquisition of the New Zealand Honey operation in the South Island for helping to increase its first-half revenue to an estimated $56 million from $43 million in the same six months last year.

The company expects a $4 million first-half loss but an annual profit between $9 million and $10 million - a rise from $7.7 million the year before.

Chief executive Brett Hewlett said boosting the security of its supply network was at the heart of the company's expansion plans.

The company accounts for 60 percent of the sector's export market.