42 | HORTICULTURE Seeka T T Kim Newth Innovation contributes to success T T to page 44 Stable growing conditions have helped paint a positive picture for Seeka, New Zealand’s largest kiwifruit grower and expert in supply-chain management that’s delivering the country’s best produce to markets around the world. The publicly listed company enjoyed a big lift in yields last year, compared to 2023 when many growers were hit hard by bad weather. Calmer conditions in 2024 boosted fruit volumes and helped lift the company’s revenue to a record $411 million and a net profit after tax of $8.8 million. Yields were up 44% on 2023. At time of writing, the 2025 kiwifruit harvest was approaching the half-way mark and shaping up very well. In February, volumes were already tracking to be as good as or better than 2024. “Seeka still holds that view, and the kiwifruit industry is forecasting an increase in crop volume of more than 5% on last year’s crop,” says Seeka chief executive Michael Franks, who observes that overall crop quality is also stacking up well, thanks to the good growing season. Tight cost-control measures and investment in innovation – in turn, driving efficiencies – are also feeding into a strong bottom line for Seeka. In addition to reshaping the business, Michael says the company has innovated with mechanisms like the Captive insurance structure – effectively placing its material damage and business interruption insurance directly into the international market. “This mechanism has actually reduced Seeka’s insurance costs and avoided the increases in insurance costs experienced across New Zealand. Seeka estimates that the savings to date are more than $5 million.” It is all positive news for investors. “The Seeka share will have been one of the top-performing stocks in the last 12 months in New Zealand,” Michael says. Seeka continues to hone its portfolio, having recently taken over the plant of Northland company Olivado, which went into liquidation earlier this year. All seven Olivado employees have since been offered jobs with Seeka. Olivado had been producing several types of oil, including avocado oil. As an existing avocado oil producer, Seeka had previously used Olivado’s pressing services in the north. The acquisition consolidates their operation in the region. The industry leaders in Consenting & Compliance, RSE accommodation, Orchard toilets and General construction. Mike - 021 222 5762 | mike@anex.co.nz Tristan - 022 658 3498 | tristan@anex.co.nz anex.co.nz
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