Seeka Kiwifruit Industries is pleased to present financial results for the period ended 31 December 2010.
In August last year Seeka's Directors determined to change the company's balance date to 31 December from 31 March 2011. The new balance date better reflects Seeka's post harvest business cycle and simplifies accounting for Seeka's investment in long term leased orchards. These financial statements are therefore for nine months, and the results are compared to the full year to 31 March 2010.
Net profit before tax is $12.7m, which exceeds Seeka's NZX market guidance of a profit in the range of $11.5m and $12.5m.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the nine months remain strong at $19.6m.
This result reflects the improved operating performance of the company, the successful integration of the Huka Pak business during the period, and the change in balance date. To view the full result click here

Half Year Review September 2010

This report covers the six months ended 30 September 2010. The company has significantly increased revenue and earnings. This reflects our continued focus on efficiency, quality and innovation across all operations. In particular, and despite a challenging operating environment, the orchard division has achieved higher fruit returns (particularly from Gold fruit). Last year's acquisition of Huka Pak has also boosted post harvest operations according to plan.
Seeka's total revenue for the 6 months increased to $110.4m, up 15.6% on the previous year. Earnings before non-recurring items, interest, tax, depreciation and amortization (EBITDA) of $24.5m compares to $17.7m for the same period, up 38.5%. Net profit before tax, non-recurring items and impairments rose by 35.9% to $20.0m. To view full review click here