Seeka Limited reported unaudited interim results for the six months ended June 30, 2026, highlighting a 5% increase in net profit before tax to $62.6 million, even as total revenue declined 1% to $305.5 million.
The New Zealand-based horticulture group attributed the profit growth to expanded automation in post-harvest operations, which offset a 4% drop in kiwifruit volumes to 45.4 million class 1 trays. Post-harvest EBITDA rose 3% to $86.3 million, with EBIT up 7% to $73.3 million on revenue of $206.6 million. The company commissioned three new Reemoon automation solutions during the period at its Kerikeri, Huka Pak, and Orangewood facilities.
Net profit after tax surged 20% to $45.4 million, while earnings per share reached $1.07, up 19% from the prior comparative period. The interim dividend was declared at $0.20 per share, payable on October 15, 2026. Net tangible assets per share increased 11% to $7.12, and total equity grew 12% to $337.8 million.
Revenue declines were broad-based, with orcharding operations down 8% to $63.6 million and EBIT falling 20% to $6.3 million amid yield reductions of 7% for SunGold and 18% for Hayward varieties. Australian operations reported flat revenue at $22.2 million but saw EBIT drop 40% to $2.9 million due to a 16% fall in fruit production to 4,760 tonnes, driven by hot and dry summer conditions.
SeekaFresh retail services bucked the trend, with revenue rising 13% to $12.7 million and EBIT up 39% to $1.4 million. The company also reduced its banking facility by $20 million to $184 million while lowering net bank debt by $10.8 million to $119.8 million, improving its net leverage ratio to 1.22 times.
Management raised its full-year 2026 net profit before tax guidance to a range of $39.0 million to $43.0 million, up from the prior $38.0 million to $42.0 million. The company remains on track to meet its 2030 target of a 50% reduction in greenhouse gas emissions from a 2022 baseline, having already achieved a 30% reduction in categories 1 and 2 emissions.
