The directors and management are pleased to present Seeka's financial results for the year ended 31 December 2012.
The results are ahead of guidance given to stakeholders at their September meeting. Specifically:
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.
During the period Seeka has implemented its strategy to enable the company to weather the impact of Psa on the industry. The company is now in a stronger financial position, with significantly lower debt and leaner operating cost structures. It is well positioned in an environment with continuing Psa, intense competition, decreasing gold fruit volumes, and an uncertain industry pathway to recovery.
Actions have included selling surplus assets, reducing debt, restructuring operations to lower costs, and limiting capital expenditure. The company has withheld the payment of dividends through the period in order to concentrate on lowering debt.
The directors and management thank staff, contractors and suppliers for their service and growers for their loyal support during the year.
The Directors have declared a fully imputed dividend of 6 cents per share, to be paid on 20 March 2013. The dividend will be paid to those shareholders on the register at 5pm 13 March 2013.
To view the 2012 Annual Report click here (summary statements)
To view the full 2012 Annual Report click here (long version)