Sharechat Logo

Seeka Limited (NZX: SEK) Lifts Current Year Earnings Guidance

Wednesday 9th December 2020

Text too small?

Seeka Limited advises that its current year earnings guidance is for a profit before tax between $15m and $17m compared to previous guidance of between $9m and $12m.

The lift in earnings guidance reflects both an improvement in operational earnings, cost savings and the expected gain arising from the sale and lease back of part of its Australian kiwifruit orchard portfolio.

Seeka has concentrated on its core business operations and the growing parts of its business as well as focussing on cost management after a challenging COVID and drought impacted harvest. In spite of these challenges with an estimated impact of $10m, Seeka’s operational earnings are ahead of 2019. Seeka did not receive any Government wage subsidy.

The Australian sale and lease back will also reduce the Company’s debt. Net Bank Debt is expected at 31 December 2020 to be between $75m and $85m, compared to $116.8m at the same date in 2019.

See the link below for more details:

Guidance Update - December 2020

Source: Seeka Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

AFT Pharmaceuticals Limited (NZX: AFT) Maxigesic IV licensed in Eight New European Markets
My Food Bag Group Limited (NZX: MFB) Lists on NZX & ASX
Fonterra Shareholders Fund (NZX: FSF) Fonterra Lifts 2020/21 Forecast Farmgate Milk Price Range
Evolve Education Group Limited (NZX: EVO) Announces Acquisitions and Intention to Resume Dividend
My Food Bag Group Limited (NZX: MFB) L&Q Notice My Food Bag Group Limited
General Capital Limited (NZX: GEN) Equifax Affirms General Finance BB- Rating
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Appoints New General Manager Investment
Synlait Milk Limited (NZX: SML) FY21 Guidance Update
Z Energy Limited (NZX: ZEL) Announces Changes to Executive Team
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) FY21 Third Quarter Dividends

IRG See IRG research reports