Select Harvests, 1 June 2026

The world’s only listed purely almond company – Select Harvests has released Half Year results announcing close to a record almond crop and increased underlying NPAT (net profit after tax) of 32.9 per cent.

In essence the company is now ready for more growth and mergers and acquisitions, to take capacity from 55000MT to 65000MT, which means capex spend and job growth in regional areas.

Select Harvests 2026 Half Year Results
Select Harvests 2026 Half Year Results Investor Presentation

Points to note:

• Select Harvests is the only listed purely almond company globally. They have 15 orchards in Victoria, South Australia and New South Wales and a state-of-the-art processing facility in Victoria;
• Today’s results forecast close to a record almond crop and increased underlying NPAT of 32.9 per cent;
• Macroeconomic environment for almonds is good, the California crop is not expanding and demand is strong. It takes 5+ years for almond trees to become productive so there is a lag if demand outpaces supply;
• There is strong demand from China and India (approx 90 per cent of the almonds are exported), and with Middle East supply difficult, they are able to shift supply to China, India and the EU;
• There is increased demand for value-added product, including paste which becomes almond milk for leading Australian brands;
• Select Harvests is announcing a dividend for the first time since 2022; and an on-market share buy back demonstrating:
  • Confidence in future profitability;
  • A shift toward shareholder returns; and
  • A stronger balance sheet relative to previous years.

Australian Rural & Regional News asked Select Harvests for more information about how their Australian orchards are faring and what’s happening and plans at the processing facility at Carina West in north-west Victoria.

Select Harvest replied, in terms of the almond orchards:

• Tree health is looking good;
• Select Harvests has secured fertiliser for the 2027 crop;
• Select Harvests are currently finalising bees for the pollination season.

For the processing plant at Wemen, Victoria (Carina West Processing Facility):

• It is currently operating at full capacity processing the 2026 crop;
• Select Harvests has implemented processing upgrades prior to the season starting which increased capacity from 50,000MT to 55,000MT; and
• In the HY results, Select Harvests announced an ambition to increase the capacity of the plant from 55,000MT to 65,000MT.