Capilano Honey
(ASX:CZZ) has reported its net profit after tax (NPAT) dropped about 4.9 per cent on FY17 to $9.8 million for the 2018 financial year.
Its revenue strengthened over the 2018 financial year, and lifted almost 4 per cent on FY17 to $139 million.
Earnings (EBITDA) increased $357 000 on the prior year, to $16 million.
Thehoney company's dividend payout increased from 40 to 42 cents per share.
Separately, the company has today announced its entered into a Scheme Implementation Agreement with HoldCo and Roc Partners to acquire 100 per cent of share capital in the company.
Capilano says it will unanimously recommend the $190 million dollar offer to shareholders in the absence of a superior bid.
If the scheme is successful Capilano shareholders will be entitled to $20.06 per share.
Shares in Capilano
(ASX:CZZ) closed closed 0.57 per cent lower to $15.65 on Friday
