Select Harvest’s first-half results for this financial year have been released and show revenue declining 24 per cent and net profit, after tax, falling 37 per cent, due to lower prices for almonds.
Select Harvests’ revenue was $126.5 million for the six months to December 31, much lower than the $166.4 million recorded for the previous corresponding period.
Net profit after tax was $11.6 million, a third lower than the $18.3 million reported for the first six months of 2015-16.
The company also announced it was buying the Jubilee Almond Orchard in South Australia for $26.5 million.
“We expect pricing to remain relatively stable between $7.50 a kg and $8 a kg, assuming a US dollar exchange rate of 0.76.”
source: weeklytimesnow.com.au
