Pāmu FY26 Report: Profit More Than Doubles to $113m
Pāmu has released its FY26 Integrated Annual Report, reporting a Net Operating Profit of $113 million, more than double the $49 million recorded in FY25.
The largest producer of kiwifruit in New Zealand and Australia, Seeka, has reported a record half-year net profit before tax of $62 million.
The listed company has also raised its 2026 full year net profit before tax guidance to $39 to $43m.
For six months ending June 2026, Seeka's revenue reached $305m. A dividend of 20c/share will be paid to shareholders this month.
Kiwifruit marketer Zespri released its first full forecast for the 2026 season with strong value expected to be returned to growers from a record crop of 225 million trays.
Average per hectare returns are forecast to exceed last year's record returns for all categories other than Green and Organic Green.
Zespri organic Sungold kiwifruit is forecast to fetch $15.67/tray and $192,000/ha. Zespri RubyRed is to fetch $17/tray and $117,000/ha.
Zespri chief executive Jason Te Brake says the forecast per hectare returns reflect this season's increased yields and the value that's been secured across global markets, despite a more challenging market environment.
Te Brake says with more fruit to sell, the focus has been on actively managing the allocation of this year's crop to help maximise grower returns.
"There's continued strong demand in North America which is helping offset some of the pressures we've seen from a more challenging market environment this season.
"In recent weeks we've also seen encouraging signs in Europe with summer fruit exiting the market, with our teams focused on closing out the season as strongly as possible."
For Seeka, investments in post-harvest automation delivered efficiency gains, lifted margins, and improved service to customers.
Seeka advanced its strategy to operate a portfolio of highly automated facilities in the regions where the fruit is grown.
Seeka's post-harvest business benefitted from investment in new technology, programmed maintenance, and automation. This included new Reemoon packing solutions, which in the first season delivered results ahead of forecast and have an outlook for further improvement as Seeka refines application of this new technology.
Seeka chief executive Michael Franks says the company has the facilities, coolstore capacity, and systems to handle an increase in New Zealand kiwifruit volumes and is considering future capacity and growth opportunities.
Meanwhile, Seeka intends on offering a new grower loyalty share scheme towards the end of the year. The scheme will be similar to the scheme offered in 2024.
Seeka says the purpose of the scheme is to reward growers with the right to receive and pay for shares in return for supplying their fruit to Seeka for a three-year period.
The growers pay for the shares in cash at the end of the scheme at today's share price, less any dividends paid over the three-year period.
The offer is subject to Seeka shareholder approval which will be sought at a meeting later in the year if the board decides to proceed with the offer.
