Brief: Select Harvests Says FY Net Profit Attributable Down 68.5%

Select Harvests

21/11/2022 23:38

Nov 22 (Reuters) - Select Harvests Ltd  SHV.AX :
    * FY NET PROFIT ATTRIBUTABLE DOWN 68.5% TO A$4.8 MILLION
    * FY REVENUES FROM CONTINUING ORDINARY ACTIVITIES DOWN 12.7%
TO
A$199.7 MLN  
    * DECLARES FINAL DIVIDEND OF 2 AU CENTS PER SHARE
    * FORECASTING THE USD ALMOND PRICE TO  INCREASE IN FY2023
    * SEES  MODEST BENEFITS IN WATER COST SAVINGS IN FY2023 
    * CROP COSTS ARE EXPECTED TO MATERIALLY INCREASE IN 2023
    * WET WEATHER CONDITIONS, IMPACT OF FIRE ON WAREHOUSING,
FUMIGATION CAPACITY IN FY2022 LED TO HIGHER WAREHOUSING,
DISTRIBUTION COSTS
    * LOGISTICAL CONSTRAINTS ARE NO LONGER IMPACTING SHIPMENTS 
    * ONGOING DROUGHT CONDITIONS IN CALIFORNIA WILL ADVERSELY
IMPACT
2023 ALMOND CROP AND PRICING LIKELY TO START TO RISE
    * BASED ON CURRENT MARKET PRICING THERE SHOULD BE A FURTHER
A$2M -
A$3M IN SAVINGS FOR 2023 CROP'S GROWING COSTS AT MURRAY DARLING

Source text for Eikon:  ID:nASXpD5Ys 
Further company coverage:  SHV.AX 
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