Capilano warns El Nino may affect honey yield
CAPILANO’S full-year profit has soared 70 per cent but the honey maker is warning of a future El Nino weather pattern threatening production.
The Queensland company’s acquisition of Melbourne’s Chandlers Honey was the main driver of its profit growth in the year to June 30 to $7.8 million but the company said the supply of honey remains limited.
“The last season has seen another year of mixed fortune for beekeepers in Australia which has resulted in a limited supply of honey overall,” chairman Trevor Morgan said.
Mr Morgan said Capilano was trying to safeguard supply by producing a pest manage- ment pack for beekeepers to deal with the possible arrival of the varroa parasite.
But not every danger to supply can be mitigated against.
“The forecast is for another El Nino event that has the potential to significantly reduce rainfall in the eastern and southern region of the country, where much of the local honey is normally produced,” Mr Morgan said.
Consumers’ appetite for health products such as Manuka honey helped Capilano’s increased profitability in recent years, he said.
Capilano shares closed 37¢, or 2.2 per cent, lower at $16.55 yesterday. OUTDOOR clothing retailer Kathmandu has brushed off speculation about the sudden resignation of a key executive, saying it has nothing to do with Briscoe’s takeover offer.
Chief operating officer Mark Todd will step down at the end of August, ending 17 years with the retailer which included a recent stint as interim chief before Xavier Simonet assumed the role.
Mr Todd said his decision was made regardless of the outcome of a takeover bid lodged by New Zealand home and sporting goods retailer Briscoe in early July.
Mr Todd said he was confident Kathmandu’s board would deliver on its forecast.
THAT old saying that if you have lemons, make lemonade, doesn’t apply to trucking brothers Glen and Kim Lindsay. The boys, who run Lindsay Australia down at the Rocklea Markets, prefer to export lemons and other export dairy, meat, eggs and seafood. With the ChinaAustralia Free Trade Agreement soon to take effect, Glen is expecting shipments to ramp up in the coming months.
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