Select Harvests Limited ( ($SHVTF) ) has released its Q4 earnings. Here is a breakdown of the information Select Harvests Limited presented to its investors.
Select Harvests Limited is one of the world’s largest almond companies, operating in the agricultural sector with a focus on almond growing, processing, and sales. The company is noted for its integrated operations and significant contributions to the almond market in Australia and globally.
In its latest financial report for the year ended September 30, 2024, Select Harvests Limited reported a net profit of $1.5 million, marking a turnaround from the previous year’s losses. The company highlighted a substantial increase in almond supply, processing capacity, and revenue, indicating successful strategic initiatives and operational improvements.
Key financial highlights of the year include a revenue increase to $337.3 million, driven by a fivefold increase in external grower volumes and enhanced processing capacity. The company’s focus on cost management and strategic supply chain enhancements has led to a significant reduction in production costs, helping to stabilize earnings despite a challenging market environment. The company also completed a successful capital raising of $80 million to support further expansion and debt reduction.
Looking forward, Select Harvests plans to continue its strategic focus on improving crop yields, expanding its processing capacity, and optimizing sales strategies to capitalize on favorable market conditions. The company is well-positioned to leverage global demand trends for almonds and plant-based foods, maintaining a strong outlook for future growth.
Select Harvests’ management remains committed to sustainability and operational efficiency, aiming to enhance shareholder value through strategic investments and comprehensive risk management practices.
