Scales shares drop 4.6% on withering earnings outlook

Scales shares drop 4.6% on withering earnings outlook
Rebecca Howard
Scales Corp shares dropped 4.6 percent after the agribusiness was less upbeat about annual earnings as covid-19 hits global sales and prices.The company said it expects underlying net profit to be at the bottom end of its $30 million-to-$36 million guidance range in calendar 2020. Underlying profit was $36.4 million in 2019.“While operations within New Zealand have been able to operate effectively, sales rates and pricing in international markets have been more variable and, as a result, earnings for the full 2020 year are forecast t...

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Nick Beeby appointed CEO of NZ Meat Board
Primary Sector

Nick Beeby appointed CEO of NZ Meat Board

Nick Beeby has been permanently appointed the chief executive of the New Zealand Meat Board (NZMB).He has been acting in the job since Sam McIvor, also the CEO of Beef + Lamb NZ (BLNZ), left the role in July last year.Beeby joined NZMB as general manager of quota and information...

Staff reporters 14 Jan 2025
Scott Tech lands $18m in meat processing deals
Primary Sector

Scott Tech lands $18m in meat processing deals

The contracts will be recognised across Scott’s 2025 and 2026 financial years.

Ben Moore 14 Jan 2025
Australia red meat exports hit record levels – again
Primary Sector

Australia red meat exports hit record levels – again

Large volumes across the Tasman weigh on New Zealand prices.

Riley Kennedy 14 Jan 2025
Foot-and-mouth detected in Germany for first time in 40 years
Primary Sector

Foot-and-mouth detected in Germany for first time in 40 years

German authorities confirmed the country's first outbreak of foot-and-mouth disease in nearly 40 years last week in a herd of water buffalo on the outskirts of Berlin.On Friday, the World Organisation for Animal Health (Woah), an intergovernmental organisation tasked with pre...

Staff reporters 13 Jan 2025