Scales reinstates full-year guidance: fewer apple trees need to be replaced

This year's apple crop is now at 50% picked and 12% sold, said Scales. (Image: Getty)

Thu, 06 Apr 2023

Scales Corp has reinstated its guidance for the full 2023 financial year and told the market it still expects underlying net profit after tax (NPAT) to be between $14 million and $19m. The agribusiness said the net profit reinstatement came after an assessment of the impact of Cyclone Gabrielle, which badly hit Hawke’s Bay.The company estimates that the total tree losses across owned and leased orchards will be about 5% of its total planted orchard area – but due to expiring leases on some of the orchards, less than 50% of thos...

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