Seeka Kiwifruit Industries, the largest kiwifruit grower in Australia and New Zealand, says profit for this year will be at the upper end of its guidance.
In August the company said it expected profit to rise by between 30 per cent and 40 per cent this calendar year. Seeka's shares hit an eight-year high of $3.75 off the back of the announcement.
However, in October it warned investors that profit could be lower due to uncertainty about whether some of the fruit lost in the fire in Bay of Plenty was insured, and said profit could be anywhere between 10 per cent and 40 per cent above 2014 levels.
The company yesterday said net profit would be between 25 per cent and 35 per cent above 2014 levels, driven by improved results from its Glassfields divison, which provides ripening and delivery services to retailers.
Profit from New Zealand operations was expected to be between $3.96 million and $4.27 million.