SEK - Seeka

[Rawz]

Found this thread on page 4..

One of the few NZX entities reporting strong numbers.

FY report out later this month. Historic numbers will be good and forecast numbers or commentary is expected to be good again.

The company is trading about 50% off its historic book value multiple.

Chart is looking great.

I hold.

[Basil]

Most orchards pay by the bin, rather than hourly.  Even an average picker can clear a bin an hour.  Bins pay varies but around mid $20s.

No wonder they struggle to get staff to pick the crop.  That's appallingly low for hot hard work and probably less than the minimum wage when you consider full time minimum wage rate employees get heaps of statutory paid holidays, 4 weeks annual leave, 2 weeks sick leave, maternity benefits and so on...

I would have thought not less than $35 for that sort of hard work with none of the above benefits.

[Scooter]

Any holders of seeka on here.   Current good weather has  certainly shone through in their earnings.  Going from strength to strength

[lorraina]

Wife and I both hold.
As you pointed out going from strength to strength.

[Iceman]

Yes a holder here. They are having a great year and what is good to see this year is that they seem to be doing well in Australia as well as NZ, in all fruit varieties.
I hope they use a decent amount of these good profits to pay down debt

[BlackPeter]

Seeka is a meaningful (material) component of my "war-time" portfolio ... Always good to hold shares of companies which provide stuff people need. Healthy food is one of these things.

And yes, on top of that they are beautifully moving out of the doldrums after having suffered a (mainly) weather related beat up over the last years ... always good to own cyclical companies (and this they are, no doubt) on the way up.

[Iceman]

Looking foorward to tomorrows announcement https://www.nzx.com/announcements/456991

[lorraina]

Revenue $307.9 million — up 8% on pcp
- EBITDA $83.5 million — up 22% on pcp
- NPBT $59.4 million — up 32% on pcp
- NPAT $37.8 million — up 121% on pcp (note deferred tax adjustment in pcp)
- Dividend — $0.15 per share to be paid 15 October 2025, record date 18 September (details further down)
- Forecast full year NPBT increased to be between $35.0 million to $39.0 million

[Left Field]

Nice upgrade..... well done holders!

https://www.nzx.com/announcements/458903

[BlackPeter]

Nice upgrade..... well done holders!

https://www.nzx.com/announcements/458903

Absolutely - holding cyclical companies during the uptrend is always nice ... and hey, things for 2026 well might improve further. Looking forward to the automation activities ,,,

Just looking at the claims of our well respected analysts: Analyst consensus last winter (up to Aug 2024) was ünderperform - and estimated Stockprice (in 12 months, i.e. now) was $2.50. Amazing how things change when you ignore the analysts ... They stopped to report on this share 9 months ago and the SP moved already up to $4.39. This is value!

One of the larger contributors to my NZ portfolio ...

[seaweed]

Absolutely - holding cyclical companies during the uptrend is always nice ... and hey, things for 2026 well might improve further. Looking forward to the automation activities ,,,

Just looking at the claims of our well respected analysts: Analyst consensus last winter (up to Aug 2024) was ünderperform - and estimated Stockprice (in 12 months, i.e. now) was $2.50. Amazing how things change when you ignore the analysts ... They stopped to report on this share 9 months ago and the SP moved already up to $4.39. This is value!

One of the larger contributors to my NZ portfolio ...

Yes looking good. sp now on 4.68. Have noticed there is a few ghost sellers in the last couple of weeks.

[Iceman]

SEK
07/11/2025 10:59
GENERAL
NOT PRICE SENSITIVE
REL: 1059 HRS Seeka Limited

GENERAL: SEK: Seeka Responds to Market Speculation

Seeka Limited (NZX:SEK) responds to market speculation about an incident of
fraud in the company. Seeka confirms that it has detected a series of
invoicing irregularities in the company which it has been investigating with
the assistance of independent forensic accountants. The total cost of the
fraud is less than $350k and the impact on the current year earnings is
$200k. There is no impact from this issue on the guidance range of the full
year earnings at a profit before tax level in the current year which is
currently between $39.0m and $43.0m. The issue has been detected
relatively early and Seeka is reviewing all payment processes to ensure that
the risk of fraud is minimised. All relevant regulatory authorities have been
notified, Seeka is pursuing full recovery, and the matter may be placed
before the Courts. Release ends. For further information please
contact: Michael Franks Seeka Chief Executive Officer +64 21 356 516
Nicola Neilson Seeka Chief Financial Officer +64 21 841 606
End CA:00462258 For:SEK Type:GENERAL Time:2025-11-07 10:59:13

[seaweed]

Tariffs to come off Kiwi fruit etc ?

[Iceman]

Tariffs to come off Kiwi fruit etc ?

Yes not insignificant. 15% tariff off our $ 250m annual US sales is not to be sneezed at. Should make Kiwifruit cheaper for US consumers, supporting our current good prices.
But who knows what Trump decides next !

[seaweed]

Hey Basil, I been accumulating these for last few weeks. The numbers look not too bad. Dividend 30c includes January div, YLD about 6.7%,  PE 6.63,  NTA 644 and EPS 67.58 looking at Morningside figures. I got a funny feeling these should be over $5 per share. Someone mentioned they did have a bit of dept though.