Seeka first-half profit plunges 92 percent on Psa impact

Thu, 05 Sep 2013

Seeka Kiwifruit Industries, the fruit grower and coolstore and packhouse operator, reported a 92 percent dive in first-half profit as the outbreak of Psa-V vine bacteria takes its heaviest toll on certain kiwifruit varieties. Net profit sank to $672,000, or 5 cents per share, in the six months ended June 30, from $8.5 million, or 59 cents, a year earlier, the Te Puke-based company said in a statement. Revenue dropped 16 percent to $67 million on declining kiwifruit volumes. The most dramatic was the slump in Zespri Hot16A gold to production o...

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