Seeka has forecast a full-year net profit before tax range of $9m to $11m, as a result of lower SunGold and Hayward kiwifruit volumes in New Zealand.
Seeka expects its 2022 kiwifruit harvest will fall short of forecasts due to lower crop volumes and a tight labour market, but said that it is too early to provide current year earnings guidance.
Workers at Seeka have written to the company to seek assurances during bargaining for a new collective agreement that there will be no wage reductions at the end of the harvest in June.
Listed kiwifruit company Seeka has labelled the 2022 harvest across Australia and New Zealand as “challenging” amid labour, weather and supply chain headwinds.
Listed kiwifruit company Seeka has delivered a strong set of annual results on the back of improved sales, a focus on costs, and $7.6m from the Crown’s PSA settlement.
Seeka has completed its acquisition of Gisborne-based New Zealand Fruits in a deal that values the latter at $21m.
Seeka says it has entered an amalgamation agreement to acquire Gisborne packing business New Zealand Fruits Limited.
Seeka says it expects net profit before tax at the upper end of its $22m and $24m guidance range for FY21 thanks to an expected Crown settlement payout over the arrival of the vine killing disease PSA.
Seeka says all the conditions of its $6.55m deal to acquire Kerikeri-based kiwifruit grower Orangewood Limited have now been met.
New Zealand’s largest kiwifruit grower says it has negotiated an increased debt facility of $190m, up from $152m.
New Zealand’s largest kiwifruit grower has upgraded its profit guidance for FY21.
Seeka has made an offer to acquire Kerikeri-based kiwifruit grower Orangewood Limited.
New Zealand’s largest kiwifruit grower, Seeka, posted a sharp rise in net profit before tax in the six months ended 30 June, up 77% to $30.8m compared with the same six months last year.
Kiwifuit company Seeka has delayed a decision on developing a new packhouse at Pukenga by pledging a $20m upgrade at an existing packhouse.
Seeka has been officially welcomed to Ōpōtiki to celebrate its purchase of Ōpōtiki Packing and Cool Storage.
A certificate of amalgamation is imminent, formalising the kiwifruit specialists’ deal.
A kiwifruit landholding owned and managed by Seeka has been placed on the market for sale.
Grower support and banking thresholds are the only hurdles remaining.
Seeka is a step closer to buying kiwifruit rival Ōpōtiki Packing and Coolstorage.
Seeka’s proposed $60m purchase of rival kiwifruit company Opotiki Packing and Cool Storage would create New Zealand’s largest kiwifruit grower with annual revenue of £300m – but it is far from a done deal.
The Bay of Plenty-based company is looking to expand its footprint in the kiwifruit sector.
The Te Puke-based produce handler more than doubled its annual profit in FY20.
Seeka has announced a 12 cent dividend, payable on 30 March 2021.
The Te Puke-based company said the dividend would be paid on 27 January 2021 to all holders of ordinary shares.
The kiwifruit exporter gets the go-ahead for a sale and leaseback deal, unlocking more profit for the year.
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