Seeka forecasts 15% drop in 2017 profit as kiwifruit harvest weaker than expected

Wed, 21 Jun 2017

By Sophie Boot June 22 (BusinessDesk) - Seeka, the largest kiwifruit grower in New Zealand and Australia, has confirmed its guidance for a 15 percent drop in operating profit in 2017 as weaker-than-expected kiwifruit crops offset growth from its avocado sector. The company warned 2017 operating profit may be up to 15 percent lower than the record $7.8 million in 2016, with New Zealand Hayward kiwifruit volumes forecast to be between 20 and 25 percent lower than the previous year. Today, it confirmed that guidance "albeit with the expectat...

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