Capilano announces takeover bid, FY18 results | Finance News Network

Capilano announces takeover bid, FY18 results

Company News

by Anna Napoli

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
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.