A Paengaroa based company has posted a fall in profit, and blames a honey shortage.

Manuka honey and olive leaf extract company Comvita has posed a full year profit decline of 10%.

Net profit has fallen to $7.37 million, or just over 24.5 cents a share.

That's down from $8.2 million a year earlier.

The company based just out of Te Puke says honey supply is returning to normal levels, however has been short.

Chairman Neil Craig says the 2013 harvest is looking better than the year prior, adding it expects raw material supply to return to normal.

Comvita will pay a final dividend of nine cents a share making 13 cents for the year, down from 14 in 2012.