seeka debt being to high is the main issue i think at the moment and they are addressing it with a further 20 - 30m debt reduction from sales in aus. bringing debt down quickly will provide interest savings to the bottom line next year. unless they are going to invest in more growth which isnt bad either.
Seeka enters conditional sale and lease back of orchards
https://www.nzx.com/announcements/353365
also there update yesterday wasnt as bad as sounded
https://www.nzx.com/announcements/353412
The Company’s operational earnings are expected to be significantly lower through lower margins, additional costs and lower volumes in the current year
yet
The Company having considered its current year performance and expecting the completion of its divestment transactions, expects earnings before tax to be in the range between NZD$9m and $11.0m for the full 2020 financial year compared to NZD$9.8m in the previous corresponding period
so if you add back in all the one off bad stuff does that mean the result would have been a cracker?