Seeka annual profit falls 44% on lower kiwifruit volumes, impaired banana business

Fri, 23 Feb 2018

By Paul McBeth Feb. 23 (BusinessDesk) - Seeka posted a 44 percent decline in annual profit as Australasia's biggest kiwifruit grower booked a $2 million charge on its banana sourcing unit while managing a decline in kiwifruit volumes. Net profit fell to $5.8 million, or 34 cents per share in calendar 2017, from $10.4 million, or 62 cents a year earlier, the Te Puke-based company said in a statement. The year-earlier figure was bolstered by a $3.1 million gain on an insurance payment. Revenue fell 2 percent to $186.8 million. "The ste...

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