They have lowered their EBIDTA guidance by $4m
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Interesting - analysts based their estimates on a Group EBITDA of only $30.7m in FY2019: https://www.marketscreener.com/SEEKA...60/financials/
If the company now forecasts a group EBITDA of between $32.5m and $33.5m, than this actually would be an earnings upgrade ;);
But anyway - it is a seasonal business and I assume that competitors are hit in a similar way, though I am a bit surprised about the reduced harvest: We had (on our mid Canterbury "orchard") this year a bumper harvest ... but obviously - not everybody has as great climatic conditions as we have (and no, we neither grow Kiwifruit nor Avocado);
Agree BP. I don't think this downgrade will have much effect on investors or SP. People invested in this game are there for the long term and take the good with the bad in this industry.
big downgrade . in nz not surprised hot weather means smaller fruit and more to fill a tray. AUS big dis appointment but again hot weather is the cause.
As i mentioned sometime back it wasnt worth re entering as growth would be constrained for a while in this company
Looking to get rid of Aussie orchards and rightly so as not much growth coming from there.
Sale and lease back.