Seeka 1H profit falls on further banana business writedown

Thu, 23 Aug 2018

By Sophie Boot Aug. 23 (BusinessDesk) - Seeka, New Zealand's biggest kiwifruit grower, posted a 6.5 percent decline in first-half profit despite revenue rising, as it wrote down the value of its banana-sourcing business further. The Te Puke-based company reported profit of $10.4 million in the six months ended June 30, from $11 million in the same period a year earlier. Seeka said the bottom line included a $1.5 million writedown of goodwill to its tropical fruit business, Seeka Glassfields. Revenue rose 8.5 percent to $145.4 million, and...

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