Seeka upgrades 2024 profit forecast after strong December

Seeka has upgraded its full-year earnings guidance for 2024, now expecting a profit before tax of $27.5 million to $31.5m.

This is an increase from the previous guidance of $23m to $27m.

The company's strong close to the year, driven by lower-than-expected overhead costs and higher-than-anticipated income in December, contributed to the improved outlook.

In contrast, Seeka reported a loss of $21m in the 2023 financial year.

The updated market guidance is based on unaudited financial results, with the audited statements set to be released in late February.