Seeka, Australasia’s largest kiwifruit producer, says excellent fruit quality has helped lift its forecast full-year before-tax profit and declare an interim dividend of 10c per share.

The NZX-listed company said forecast full-year earnings guidance at a profit before tax level has increased from a previous range of $17-21 million to between $21m and $25m.

In FY23, Seeka reported a loss of $21m.

“The improved forecast reflects enactment of a clear strategy, excellent fruit quality and performance, efficiencies and margins across the business,” it said in a market statement ahead of its 2024 half-year results.

It also declared a dividend of 10c a share to be paid on January 20, ahead of the normal dividend payment month of April.

Chief executive Michael Franks said the Bay of Plenty-based company had achieved a good year.

“The guidance range indicates record operational earnings for Seeka, and key covenant ratios are well within their long-term range.

“While there is a drive to continue to reduce debt, the company considered a distribution to shareholders appropriate. The full-year dividend is normally paid in April. This year, the full-year dividend has been varied to provide a quicker restoration of dividends and provide an earlier return on investment to Seeka’s shareholders,” Franks said.

The company said Franks and Seeka chairman Fred Hutchings would today present Seeka’s interim financial results for the six months to June 2024, and update stakeholders on Seeka’s operations.

Seeka’s share price rose 13c or 4.87% to $2.80 on Wednesday morning.