Select Harvests (ASX:SHV) expects EBIT of AUD 17-19mn in FY24, banks on almond price rise

Mon 07 Oct 24, 12:23 AM | Team Kalkine

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Highlights

SHV is expected to benefit from the rise in Australia's food retail turnover, which increased by 0.6% in August 2024

In 1HFY24, EBITDA surged by 115.9% YoY to AUD 18.7 million, compared to an EBITDA loss of AUD 117.7 million in the previous period

The company expects to deliver underlying EBIT of AUD 17-19 million in FY24

Select Harvests Limited (ASX:SHV), an ASX-listed company engaged in the production of almond products for retail and industrial markets, is expected to benefit from a rise in retail turnover. According to the data released by the Australia Bureau of Statistics (ABS) on 1 October 2024, Australia’s food retail turnover increased by 0.6% in August.

In July, the retail turnover increased by 0.1%, in June by 0.5% and in August by 0.7%, on a seasonally adjusted basis, marking the third consecutive month of rise.

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