News: SHV Select Harvests Says FY Net Profit Attributable Down 68.5%

Nov 22 (Reuters) - Select Harvests Ltd (SHV) :

• 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