Select Harvests Swings to Profit in Fiscal 2024; Revenue Climbs 64%

MT Newswires Live
2024-11-29

Select Harvests (ASX:SHV) reported fiscal 2024 earnings of AU$0.0123 per share, rebounding from a loss of AU$0.9414 per share a year earlier, according to a Friday filing with the Australian bourse.

Analysts polled by Visible Alpha expected EPS of AU$0.03.

The company posted a profit attributable to members of AU$1.5 million, compared with a loss of AU$114.7 million a year ago.

Total revenue for the 12 months ended Sept. 30 climbed nearly 64% to AU$337.3 million from about AU$206 million a year earlier. Analysts surveyed by Visible Alpha expected AU$255.3 million.

"The velocity of the sales program is the highest sales results in the company's history," said Chief Executive David Surveyor.

The almond products manufacturer noted that previously announced delays in cash receipts of AU$56 million are now resolved.

The company did not declare a dividend for the period.

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