Produce handler Seeka has reported a loss before tax of $21 million for the year ended December 31 2023, in line with its previous guidance.
The company's audited results also revealed a 29% decrease in gross profit, which amounted to $48.7m, and a 44% decline in EBITDA to $26m.
Seeka's net loss after tax for the year was $14.5m, compared to a net profit of $6.5m in the previous year.
Seeka chief executive, Michael Franks, attributed the difficult harvest to adverse weather conditions, including a warm wet winter, cyclones, and hail, which impacted orchards in New Zealand and Australia.
These factors resulted in lower kiwifruit volumes and reduced revenue for Seeka.
The company said it is now focused on restoring profitability in 2024 and reducing debt.
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