New Zealand's largest kiwifruit grower, Seeka, has had a slight fall in half-year profit but remains optimistic conditions will improve.
The company made an $8.2 million profit in the six months to September, down about 3% on the $8.4m in the same period last year. Revenue remained steady at about $95.5m.
Seeka chairman Kim Ellis says it was a challenging period, as worldwide economic turmoil affected markets abd a severe hailstorm damaged crops during harvest.
The company's cashflow increased by 14% to $17m, which enabled it to reduce its borrowings by $6.7m and improve its equity ratio from 55% to 53%.
Mr Ellis says the company now expects to make a pre-tax full year profit of between $6.9m and $7.5m.
It has declared a dividend of 10c a share.
