Select Harvests Achieves Financial and Safety Improvements

Select Harvests Limited (ASX: SHV) has prioritized safety and financial enhancements in their operations. Key safety improvements include fostering leadership visibility, incident investigation training, and deploying an external safety coach. Seasonal workers benefit from new safety videos for key farm machinery, and a critical risk review of machine guarding is underway.

Financially, the company reported a net profit after tax of $2.1 million and a net debt/equity ratio of 57.9%. Despite challenges from a lower 2023 crop volume, a strong 2024 crop forecast of 29,000MT at $7.52/kg is projected. Key financial drivers include an expected reduction in net debt to $160-$170 million and a 17% increase in almond prices in 1H FY2024. Cost reduction strategies have successfully decreased production costs to $6.85/kg.

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