Seeka

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Article in Northern Advocate, 19/7/21.

Northland had record Kiwifruit crop, worth $76M.

Seeka had most of it, with @1.7M trays packed themselves, and mostly Gold variety.

With BOP, Coromandel & East Coast added, should be plenty of cream on the pavlova, and Avocadoes to be tossed into the salad as well.

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13 cent divvie ann. today, ahead of tomorrow's reults.

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Half year profit $30.8M, up 77% on pcp.

Juicy.

[BlackPeter]

HY results are out ... looking good but full year guidance looking amazing:

https://www.nzx.com/announcements/377529

Basically expecting to repeat the big earnings from last year and on top of that expected settlement from the crown for Kiwi fruit disease ...:

Full year operational guidance
Seeka has substantially improved operational earnings in the period. Full-year net profit before tax (NPBT) is forecast to be between $13.5m and $16.0m. This includes $1.4m of restructuring and acquisition costs, and excludes any one-off gains or extraordinary items (should they settle in the year) and $1.8m of OPAC profit to the acquisition date (NPBT). Note that $9m of pcp NPBT was from a gain on orchard sales.

New Zealand dollars ($ millions)
FY21 Guidance Lower range $13.5m: Change on FY20 ( 17%)
FY21 Guidance Upper range $16.0m: Change on FY20 ( 2%)
FY20 Audited Net profit before tax $16.3m

Full year guidance
Further to the full year operational guidance of net profit before tax, Seeka expects a one-off extraordinary gain from the successful settlement of the kiwifruit claim against the Crown. The actual amount to be received by Seeka is unknown with the distribution subject to High Court approval, with the timing of payment expected to be received before the end of 2021. Seeka is estimating that its share of the distribution could lift the net profit before tax for the 2021 year to between $20.0m and $22.0m.

Seeka - never can have to many (well, at least not at the moment ).