The Select Harvests Limited (ASX: SHV) share price has continued its disappointing run on Wednesday.
In afternoon trade the almond producer's shares are down almost 2% to a new 52-week low of $3.88. This latest decline brings its year-to-date decline to over 48%.
Why have its shares almost halved in value this year?
Select Harvests has seen its shares come under heavy selling pressure due to the business being negatively impacted by an increase in costs, unfavourable currency movements, and higher orchard rents.
This ultimately resulted in the company delivering a full-year net profit after tax of just $9.2 million.
This was a disappointing decline of almost 73% from the net profit of $33.8 million it delivered in FY 2016.
Management didn't provide any form of guidance for FY 2018, which may have been interpreted by the market as another year of underperformance.
