Speirs Group says it will take time to recover from recent setbacks it has experienced.
The company has sold its finance arm to Allied Farmers and also sold its omega 3 micro-encapsulation technology to a company in Britain.
Speirs now primarily makes and distributes fresh foods, mainly fresh salads, to supermarkets and the food service industry.
It posted a profit of $229 million in the 2011 financial year.
However, the company told investors at its annual meeting on Monday that, at best, it will break-even this year, although it may record a small loss as it tidies-up remnants from last year.
It expects the next financial year to be more positive and for fortunes to improve thereafter.
Meanwhile, founding director, Don Speirs, has retired.