Welcome to Seeka Kiwifruit Industries Limited
Seeka’s goal is to deliver the best service and returns to our supplying growers while maximising returns and value to our shareholders.
As New Zealand’s largest kiwifruit grower, with more than 1000 hectares under production, Seeka is keenly focused on maximising orchard returns.
Operating more than 20% of the industry’s total packing and coolstorage capacity, we have the personnel, systems, and facilities to best manage the logistics chain for supplying orchardists and international clients.
Seeka Kiwifruit Industries Limited has registered a simplified disclosure prospectus dated 23 September 2013 in respect of the Grower Incentive Scheme. To obtain a copy of the simplified disclosure prospectus click here
Stakeholders were updated on Seeka's vision and strategy to be New Zealand's premier produce business by chairman Fred Hutchings at Seeka Huka Pak on Tuesday 22 October. For Seeka, premier means being smart, professional, and to deliver excellence driven by performance and reputation.
Chief executive Michael Franks followed by highlighting the latest developments in Seeka's core businesses, including expansion of Seeka's supply base in Northland, growth in the SeekaFresh Australian marketing programme, and new offshore handling and logistics operations with the opening of a coolstore in Port Tanjung Pelepas in Malaysia.
Chief financial officer Start McKinstry then provided an overview of Seeka's six-monthly financials and forecast results to December 2013.
To see the presentation click here
Earnings in this half year are significantly lower than the previous corresponding period (pcp), reflecting reduced fruit volumes due to Psa-V.
The much-reduced volume of Zespri Hort16A gold variety in particular has affected both orchard and post-harvest earnings. Although earnings are down on the pcp, and on two years ago, the company’s financial performance for the half year is credible in the prevailing market.
Seeka has declared a dividend of $0.06 per share to be paid 27 September 2013.
Seeka's financial results for the year ended 31 December 2012 are ahead of guidance given to stakeholders at their September meeting. Specifically:
- Profit before tax, impairment, revaluations and restructuring totalled $8.9m (guidance range $5.7m to $6.4m);
- Cashflow from operations totalled $12.6m (guidance range $9.8m to $10.5m);
- Total bank debt totalled $17.8m (guidance range $20.8m to $21.5m).
Seeka achieved earnings of $0.41 per share for the year and a net tangible asset backing of $3.89 per share at 31 December 2012.
An independent report by Sapere into the kiwifruit vine disease Psa has identified "shortcomings" in New Zealands's biosecurity system. Read the full Sapere report here
Seeka Kiwifruit Industries is in the market for increased volumes of export-quality avocado after successfully opening new markets on the back of its SeekaFresh kiwifruit marketing relationships in Asia.
Currently looking to appoint a Senior Orchard Supervisor
Currently Seeka are looking to employ an Orchard Manager. You will need to optimise production of the orchard/s within the constraints of the resources available, while operating and maintaining the assets in a professional manner comparable with best industry practice.