fbpx
Print this page
Thursday, 16 March 2023 10:25

Weighing up impact of Gabrielle

Written by  Staff Reporters
Scales Corporation says lockdowns in China led to material reductions in market prices during critical sales windows. Scales Corporation says lockdowns in China led to material reductions in market prices during critical sales windows.

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Meanwhile, the company has withdrawn its full-year guidance for 2023 due to the wide-ranging impacts of Gabrielle.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.

More like this

Off the radar

Off the radar

A year on and the problems created by Cyclones Hale and Gabrielle has largely dropped off the radar of media and politicians.

Woolworks scour reopens after $50m rebuild

The world’s largest wool processing facility, badly damaged by Cyclone Gabrielle over one year ago, has re-opened following a $50 million rebuild and refurbishment project.

Popular Reads

Milk price certainty

Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following…

Farmers fined for cattle abuse

A Waikato cattle farming family have been fined $23,000 for failing to provide sufficient food and care for their animals,…

Featured

Women 'dominate vet profession'

Women 'dominate vet profession'

Females are dominating the veterinary profession worldwide and many farmers are welcoming this change in the composition of the profession, says Britain's Chief Veterinary Officer (CVO) Professor Christine Middlemiss.

High level of herbicide resistance

A five-year randomised survey of herbicide resistance on New Zealand arable farms has found widespread high levels of resistance - with 71% of farms affected in the worst-hit region - South Canterbury.

Editorial: Farm salaries get a boost

OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.

Fonterra appoints new CFO

Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.

National

Levy approval sought

A series of apple and pear grower meetings are being held around the country.

Leaderbrand goes electric!

One of the largest horticulture commercial growing companies in NZ has just begun using a new electric harvester and self-propelled…

Machinery & Products

Success for Argo tractors

Success for Argo tractors

The judges at last year’s Agritechnica event picked the Italian-built Landini Rex 4-120GT Robo- Shift Dynamic as the Best of…
Pollution into fertiliser

Pollution into fertiliser

While the new government is sure to “tinker” with the previous administration’s emissions policy, a recent visit to New Zealand…

Smart money backs smart machine

Marlborough-based start-up SmartMachine claims its new machine is one of the most significant operational step changes for viticulture since the…

Robo packer hits a billion

New Zealand inventor and manufacturer Robotics Plus Limited’s fruit packing robot has hit a major milestone of one billion pieces…