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COMVITA 25 February 2021 Turnaround on track at Comvita Headlines ■ Reported NPAT $ 3.5M vs. ( $ 13M ) in PCP Reported EBITDA * $ 10.6M vs. ( $ 8.8M ) in PCP , an improvement of $ 19.4M Reported revenue $ 98.9M , + 5.5 % vs. PCP Double - digit top and bottom - line growth in focus growth markets Net debt reduction ** $ 1.6M , Inventory reduction ** $ 14M , Operating cash inflow $ 9.4M Gross Profit +1080 bps , + 28.3 % vs. PCP Marketing Investment + $ 2.1M or + 25 % $ 15M business transformation plan on track : . Additional $ 10M transformation phase two launched 37 % reduction in total recordable injury frequency rate ( TRIFR ) Full year guidance maintained ; dividends expected to resume at full year 31 December 31 December Financial results for the six months ended $ M 2020 Unaudited 2019 Unaudited Revenue Gross Profit EBITDA * 98.9 93.9 48.5 35.8 10.6 ( 8.8 ) Net Profit / ( Loss ) after tax 3.5 ( 13.0 ) Net debt 13.9 93.2 Inventory 98.5 116.1 * EBITDA : Earnings before interest , tax , depreciation , and amortisation ** Performance vs. 30 June 2020 Comvita ( NZX : CVT ) today announced that for the six - month period ending 31 December 2020 , it returned to profitability with net profit after tax ( NPAT ) reported as $ 3.5M versus a $ 12.97M loss in the prior corresponding period ( PCP ) . Reported EBITDA was $ 10.6M versus a loss of $ 8.8M in the PCP . Revenue increased to $ 98.9M , + $ 5.5 % versus PCP , or 6.7 % in constant currency , with strong growth seen in focus growth markets and its core Mānuka category . Marketing investment designed to support Comvita's long - term growth ambition increased by 25 % on the PCP as Comvita activated plans to drive brand affinity and tell its founding story to discerning consumers around the world . Commenting on the performance , Comvita Chairman , Brett Hewlett , said " We're pleased with the progress the team has delivered over the last year . The Board and management have continued to transform the business at pace looking to ensure we deliver the performance that all Comvita stakeholders should expect . The result shared today shows that the ongoing transformation is multi - dimensional with revenue , margin , and earnings improvements , along with good financial and capital disciplines evidenced in net debt reduction , inventory reduction and cash generation . In line with our previous disclosure , and subject COMVITA LIMITED Comvita Limited , 23 Wilson Road South , Private Bag 1 , Te Puke 3189 , New Zealand . PH : +64 7 533 1426 , FX : +64 7 533 1118