Does Gregory Tomlinson of Oceania / Heartland fame still hold a sizeable chunk of Seeka
Printable View
Does Gregory Tomlinson of Oceania / Heartland fame still hold a sizeable chunk of Seeka
For you W69.
Interesting noting where Simon Limmer was before he became ceo of Silver Fern Farms.
https://www.scoop.co.nz/stories/BU23...mer-as-ceo.htm
Just had a look of the recent financials and seems to me SEK have a bit of a debt issue…. Could be a cap raise or asset sales if it’s another tough season
A bit of an update of where we are at with the current season. It's as positive as you can be when dealing with mother nature.
I attended an Eastpack meeting on Tuesday. When I speak of Eastpack then basically assume that the same basic principals apply to Seeka as they are a similar size. Please also consider that it's early days in the season. .
The bud break is slightly above average. This will more than likely transpire into healthy volumes of fruit this season and a significant increase on last season.
These volumes will lead to healthy cash flows and healthy profits.
Eastpack has signalled the following
Grower rebates
Share buybacks to treasury stock. Then cancelling dry shareholders and over shared growers ( greater than 6 times production)
Dividends
The initial capital requirements forecast for building new coolstore capacity has been scaled back as the growth forecasts in fruit volume are looking less lumpy.
Seeka will signal growth along the same lines (Zespri forecasts).
If I had more cash I would buy Seeka shares as they really represent excellent value at these levels. I'm very long Eastpack and as a Cooperative our share trading is less liquid. However, I'm extremely confident that this a great investment.
As a grower, if we had any concerns then it would be with Zespris ability to stick to a very tight shipping and sales schedule.