The scheme, introduced last year, allocates shares to growers on the basis of a percentage of trays committed.
The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) of $11.29 million, up 19.5 per cent from $9.45 million the previous year. Both profit and EBITDA were ahead of the guidance given to stakeholders and the NZX last October.
Operating revenues of $115.67 million were up 18.8 per cent from $97.37 million the previous year, with total turnover for the year of $148.6 million.
Earnings per share for the year were .22, compared with .16 per share the previous year.
At year end, each share had a net tangible asset backing of $4.07 and a market price of $3.23.
Seeka will distribute a fully imputed final dividend of .08 per share on March 27, bringing the total for the year to .16 fully imputed.
The dividend reinvestment plan will apply, allowing shareholders to convert their cash dividend into shares at a strike price of $3 per share.
Seeka chief financial officer Stuart McKinstry said Seeka was carrying low debt levels, with total debt less cash at December 31, 2014 of $17.24 million.
Of this, Seeka had invested $11.59 million in growing the crop that would be harvested in 2015, which was treated as inventory and typically funded on short-term debt.
"Removing this from the total debt amount leaves us with a core debt of $5.65 million, which we consider to be low in the context of Seeka's total long-term assets of approximately $80 million," said Mr McKinstry.
The $5.65 million compares with $4.7 million at the end of 2013.
Mr Franks said Seeka had been steadily rebuilding since Psa.
"Seeka is now back on a growth trajectory, both in size and profitability," he said.
Recent purchase helps boost overall revenue
Chief executive Michael Franks says all parts of Seeka's business performed well last year, including the newly acquired Glassfields business, which had been integrated within Seeka to form its retail services division.
Seeka bought Glassfields for $5.38 million last year as part of its drive to diversify beyond its core kiwifruit business. Glassfields provides ripening and delivery services to key retail customers as well as wholesale market services to independent operators.
Glassfields also holds exclusive New Zealand rights to import and distribute Sumifru bananas, pineapples and papayas from the Philippines and provides banana ripening services.
The overall turnover of $148.6 million - up 35.8 per cent from the previous year - reflected the significant effect of the Glassfields purchase on retail services activities, the company said.
Glassfields contributed revenues of $2.14 million for the period from its acquisition in April 2014 to year-end.
Mr Franks said Seeka was repositioning itself as a more broadly based produce company. However, Seeka continued to take a long-term view in maintaining and developing its core kiwifruit business, he said.
Kiwifruit capacity plans have been reviewed and new investment made to ensure Seeka had the capabilities to handle the anticipated increased volumes in the 2015 harvest.
The company re-invested $5.64 million in property plant and equipment last year and re-invested $925,000 in the redevelopment of long-term orchards. It will be investing in additional capacity improvements this year, mostly in cool stores.
