The country's largest kiwifruit grower has still managed to increase profits despite a challenging year.
Photo: RNZ / Angus Dreaver
Seeka has reported a net profit of $21.5 million in the six months ended June - up 4.3 percent from 2021.
Operating earnings are up 5.3 percent to $49.4m.
Company chief executive Michael Franks said the result was not the strongest.
"It's been a challenging six months, the company's now sort of hunkering down and focusing on core operations because we've had to contend with labour shortages, the effects of Covid-19. I think at its peak we were over 1100 people short.
"There's also the pressure of inflation, rising costs of transport, fuel, and we've had a lot of adverse weather events affect our crop."
Franks said a storm in Ōpōtiki in late 2021 wiped out a couple of million trays of kiwifruit.
"And then there's been the quality issues with fruit this year which hasn't helped either."
A lot of people had been working really hard in the company which was probably unsustainable at times, so while it was relieving, he was not happy with the result, he said.
No dividend is payable at this time with one to be reconsidered later in the year.
Seeka's full year net profit before tax is forecast to be between $9m and $11m.
