Seeka cuts annual profit forecast on increased kiwifruit spoilage

Wed, 14 Oct 2015

By Tina Morrison Oct. 14 (BusinessDesk) - Seeka Kiwifruit Industries, the country's biggest kiwifruit grower, cut its full-year profit forecast as it lost more fruit than expected late in the season due to a lack of storage. The Te Puke-based company expects profit in calendar 2015 to increase between 10 and 40 percent from $3.2 million in 2014, it said in a statement. The forecast includes expected insurance payments from a fire at its Oakside, Tauranga, post-harvest site in March. That's lower than the company's August forecast for an a...

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