24 Apr 2013

Seeka looks beyond kiwifruit

7:05 am on 24 April 2013

The country's largest kiwifruit grower, Seeka, has told shareholders it wants to extend its footprint further and evolve into a wider produce business.

The company says it is now shifting its attention from short-term strategies to survive the spread of the Psa disease towards longer term strategies.

Chair Fred Hutching said options exist for the company to increase its market share in the kiwifruit industry.

He said the directors are also considering how it might leverage off its core capabilities and move into complementary areas of business.

Seeka is reporting a profit before tax for 2012 of $8.9 million - well over the projected $5.7 to $6.4 million.

It also reports debt reduction to $17.8 million, compared with the $29.8 million debt at the same time the year before.