Scales declares strong first half performance
Scales Corporation has today reported its results for the first half of the 2025 financial year, revealing what it says are outstanding results from its horticulture and logistics divisions.
Scales Corp says it is still appraising the impact of Cyclone Gabrielle on the horticultural side of its business.
The company made this statement after reporting on its half year result. It reported that lockdowns in China had led to material reductions in market prices during critical sales windows, which impacted its horticulture division.
Scales added that lower volumes, higher shipping costs and labour availability also impacted its horticulture division.
The underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) in its horticulture division were $17m - versus $40.8m in the prior year.
Meanwhile, the company has withdrawn its full-year guidance for 2023 due to the wide-ranging impacts of Gabrielle. An initial assessment from the company said the material impact will be on Mr Apple's orchards.
The Commerce Commission has announced that it has filed proceedings against Westpac New Zealand.
Ia Ara Aotearoa Transporting New Zealand says it backs calls for a review on farm transport rules.
A farm owner and two former Waikato contract milkers were recently fined $27,000 over a lack of feed for 230 cattle and a lack of treatment for cows suffering from milk fever.
Scales Corporation has today reported its results for the first half of the 2025 financial year, revealing what it says are outstanding results from its horticulture and logistics divisions.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
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