May 12 (Reuters) - Select Harvests Ltd (SHV) :
- 2023 ALMOND CROP VOLUME IS EXPECTED TO BE LOWER THAN PREVIOUSLY FORECAST
- CLIMATIC CONDITIONS HAVE MATERIALLY IMPACTED 2023 CROP WITH COLD AND WET WEATHER
- EARLY INDICATIONS ARE THAT 2024 CROP IS ON TRACK TO RETURN TO NORMAL YIELDS
- LOWER VOLUMES ACROSS WEIGHBRIDGE IN ADDITION TO LOWER CRACK-OUT RATES, HAVE REDUCED 2023 CROP VOLUME FORECAST TO 17,500MT
- 2024 GROWING PROGRAM COMMENCED, EXECUTING A FULL HORTICULTURAL PLAN
- EXPECTS 2024 CROP TO DELIVER IMPROVED YIELDS IN A FAVOURABLE PRICING AND COST ENVIRONMENT
- INCREASED FORECAST NET AVERAGE PRICING FOR 2023 CROP TO BE IN RANGE OF A$7.40 - A$7.80/KG
- EXPECT FINANCIAL IMPACT OF VOLUME DOWNGRADE LIKELY TO BE PARTLY OFFSET BY RECENT INCREASES IN ALMOND PRICES, AMONG OTHERS
- ASSUMING RETURN TO MORE NORMAL WEATHER CONDITIONS, EXPECT YIELDS FOR 2024 CROP TO BOUNCE BACK TO 2021/2022 LEVELS
- WILL BE RECOGNISING AN ESTIMATED FULL YEAR LOSS RESULTING FROM REDUCED FORECAST 2023 CROP WITHIN HALF YEAR RESULT
- NO LOSS (OR PROFIT) FROM 2023 CROP WILL BE RECOGNISED IN SECOND HALF
News: SHV Select Harvests Sees 2023 Almond Crop Volume Lower Than Previously Forecast
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$3.70 |
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