Seeka raises profit forecast due to strong performance

Seeka has upgraded its earnings guidance for the financial year, with profit before tax now expected to be between $39 million and $43m.

This is an increase from the previous forecast range of $35m to $39m.

The company attributed the improved guidance to strong performance in its New Zealand post-harvest and retail services businesses, as well as its orcharding and Australian operations.

Seeka also highlighted its focus on cost efficiencies and the successful implementation of automation and scale.

As part of its ongoing investment in automation, the company has ordered two new packing machines, which are set to be commissioned before the 2026 harvest.

Seeka said it has been able to reduce debt and will continue to operate well within banking covenant levels.