Seeka

[bull....]

Harvesting going quite well by the sounds of it despite still some issues with getting enough workers. Despite the COVID restrictions, SEK are packing around 90% of pre-COVID volumes and so far have packed 12.5m trays (12.8 in 2019) of which 7.4m (6.4) has been shipped. All looking good so far.

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?

[iceman]

No question that SEK has had significantly increased costs due to COVID restrictions, with staffing transport, accommodation and placements at working stations requiring "social distancing" and making it difficult. Very hard to say how much of that lower profit is due to that.
But we also have significantly lower Hayward yields for 2 years running due to dry weather, despite SEK now being spread out much more geographically than they were prior.

So not sure if we can say it would have been a bumper year without the unforeseens. It seems we get some unforeseens in this business each year so they probably should be normalised and should they not happen, we should take that as a bonus.

[bull....]

No question that SEK has had significantly increased costs due to COVID restrictions, with staffing transport, accommodation and placements at working stations requiring "social distancing" and making it difficult. Very hard to say how much of that lower profit is due to that.
But we also have significantly lower Hayward yields for 2 years running due to dry weather, despite SEK now being spread out much more geographically than they were prior.

So not sure if we can say it would have been a bumper year without the unforeseens. It seems we get some unforeseens in this business each year so they probably should be normalised and should they not happen, we should take that as a bonus.

whats your call on the div being announced in june ? its a either way bet in my mind

[kiwidollabill]

No question that SEK has had significantly increased costs due to COVID restrictions, with staffing transport, accommodation and placements at working stations requiring "social distancing" and making it difficult. Very hard to say how much of that lower profit is due to that.
But we also have significantly lower Hayward yields for 2 years running due to dry weather, despite SEK now being spread out much more geographically than they were prior.

So not sure if we can say it would have been a bumper year without the unforeseens. It seems we get some unforeseens in this business each year so they probably should be normalised and should they not happen, we should take that as a bonus.

Its an extremely good year for Sungold...

[iceman]

whats your call on the div being announced in june ? its a either way bet in my mind

A good question bull. Probably a bit early to call but I'm expecting unchanged at 12c. You ?

[bull....]

A good question bull. Probably a bit early to call but I'm expecting unchanged at 12c. You ?

i dont know but they did say the last div of 12c was deferred to june decision so you maybe right. im sure growers will be dissappointed in no dividend again.

heres some news

Gold kiwifruit exports continued to rise after a strong showing in March 2020. Gold kiwifruit increased $116 million (37 percent) in April 2020 when compared with April 2019. Exports to Japan led this increase, with gold kiwifruit exports to the country more than doubling compared with April last year.

https://www.scoop.co.nz/stories/BU20...port-month.htm

[bull....]

director buying shares on market at 4.30 . vote of confidence. look pretty silly though if no dividend is declared and the price falls though

http://nzx-prod-s7fsd7f98s.s3-websit...947/323608.pdf

[peat]

director buying shares on market at 4.30 . vote of confidence.

just this is enough. forget the rest.

price ultimately not determined by company success but by market flows.

[turnip]

Its an extremely good year for Sungold...

I'm not a grower, just a consumer, but have noticed the gold have been much better tasting than the green this year.

I gather that the gold cope with the hot, dry weather we have been having better than the green, but does anyone know whether Seeka's increasing production of gold will act as a hedge against drought in the future, or is it just something specific to this year's conditions?

[bull....]

I'm not a grower, just a consumer, but have noticed the gold have been much better tasting than the green this year.

I gather that the gold cope with the hot, dry weather we have been having better than the green, but does anyone know whether Seeka's increasing production of gold will act as a hedge against drought in the future, or is it just something specific to this year's conditions?

no expert about , but gold provides better returns than green , so makes sense to be overweight in gold. maybe gold growers have irrigation thats why they were better this year? dont know about weather they are drought resistant.
i brought some this week too for a div , i think it would be hard to say covid is why they cant pay this time , it would have to be because we had a very bad year as the reason.