Seeka has reported a significant turnaround in its financial performance for the year ended December 31, 2024.
The company achieved operating revenue of $411 million, up 37% from the previous year.
Its ebitda increased by 193% to $76 million, while profit before tax reached $30m, compared to a loss of $21m in FY23.
Seeka's chief executive, Michael Franks, attributed the increase in revenue to higher volumes handled in New Zealand and Australia, driven by better growing conditions.
The company handled 43 million class 1 trays of kiwifruit in New Zealand, a 44% increase from 2023, and achieved a 166% increase in production from its Australian kiwifruit orchards.
Seeka's improved financial position and compliance with banking covenants enabled it to resume dividends, with a 10 cents per share payment in January 2025 and a further 5 cents per share dividend to be paid on April 15.
See more
