News Update
Seeka is pleased to announce its audited financial results for the year ended 31 December 2024. The company reports a return to profitability with a record $29.7 million profit before tax, within the $27.5 million to $31.5 million range signalled to the market.
“Seeka’s 2024 revenue of $411 million was up 37% on 2023’s $301 million. The $110 million increase in revenue was driven by higher volumes handled in New Zealand and Australia,” says Seeka chief executive Michael Franks. “Better growing conditions lifted yields with Seeka’s New Zealand post-harvest operations handling 43 million class 1 trays of kiwifruit, a 44% jump from 2023. Seeka also achieved an 166% increase in production from our Australian kiwifruit orchards, selling 2.3 million kilograms of our Australian-grown kiwifruit.
Seeka’s focus is to lift its financial profitability, reduce debt and improve its balance sheet ratios while delivering excellence and an outstanding service to its growers and customers.
Profit before tax was up 242% to $30 million, which is a $51 million turnaround from a $21 million loss before tax in 2023.
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