Following the successful completion of the kiwifruit harvests in New Zealand and Australia, Seeka Limited advises that it has completed its financial forecasts for the year ending 31 December 2024 indicating an expected net profit before tax in the range of $15 million to $19 million. This compares to a net loss before tax of $21 million in the prior year.
This financial guidance reflects the significant recovery of kiwifruit volumes and expected net earnings of all Seeka's business in New Zealand and Australia. The company remains focussed on maximising operational net earnings and continuing to reduce debt.
Seeka has worked proactively with its banking syndicate over the past two years and expects to be back within long-term banking covenants in the 2024 year. The Board may be able to consider dividends later in the year when the financial forecast is more certain.
Seeka is a seasonal business and expects to record a greater proportion of the full year profit in the first six months ended 30 June 2024. The Company will release its 6-month results by 29 August 2024.
For more information:
Michael Franks
Seeka Limited
Tel.: +64 21 356516