Seeka forecasts FY $15m-$19m before tax net profit

Seeka has announced its financial forecasts for the year ending Dec 31, 2024, with an expected net profit before tax of $15 million to $19m.

This is a significant turnaround from the prior year's net loss before tax of $21m.

Seeka attributed the positive forecast to the recovery of kiwifruit volumes and expected net earnings of its businesses in New Zealand and Australia.

The company also expressed its focus on maximising operational net earnings and reducing debt.

Seeka, which is a seasonal business, anticipates recording a higher proportion of the full-year profit in the six months ending Jun 30, 2024.

The company will release its six-month results by Aug 29, 2024.