Comvita has returned a respectable profit despite rising honey costs thanks to strong demand for its products in Asian markets.
The Paengaroa-based natural health and beauty products company today announced a $7.4 million after tax profit for the year ending March 31, 2013.
This was in spite of an increase in Manuka honey prices of up to 50 per cent last year, Comvita Chairman Neil Craig said.
"Given the constraint on the supply of Manuka honey, one of our most important ingredients, we are satisfied with our financial results.
"Our significant investment in sales and marketing infrastructure in key export markets over the last few years has allowed us to pass on raw material price increases without dampening demand, albeit with some lag in financial impact on our profits."