It has been a tough period for honey producers but Capilano continue to deliver results
It has been a tough period for honey producers but Capilano continue to deliver results. Ben McKee, Managing Director of Capilano Honey (CZZ), says, we've had the worst supply year possibly on record. However, 96% of Australians are familiar with the brand and Capilano has capitalized by increasing market share from 50% to 70% during the past year. The Company had been conserving honey supplies for the past 18 months to help get through the period. McKee says that the constrained supply has seen honey prices go to the highest level in over a decade. Capilano recently reported annual results at the end of July with revenue increasing 19.2% to $86million and underlying profit increasing 15.2% to $7.95million. In early July Kerry Stokes' emerged with a 12.5% position in Capilano adding further interest in to stock. Watch the AFR interview here: (VIEW LINK) and download latest research from Canaccord here: (VIEW LINK)
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