Seeka cuts earnings forecast on smaller crop

By Gavin Evans | Thu, 09 May 2019


By Gavin Evans May 10 (BusinessDesk) - Kiwifruit grower and marketer Seeka has cut its full-year earnings guidance by $4 million due to reduced harvests in both New Zealand and Australia. Group earnings before interest, tax, depreciation and amortisation are likely to range from $32.5 million to $33.5 million in the 2019 calendar year, down from the $36.5-$37.5 million range the Te Puke-based company signalled a month ago. Seeka, the biggest kiwifruit producer in New Zealand and Australia, said unseasonably hot, dry weather in both cou...