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...

More Primary Sector

New rules cut red tape for food exporters
Primary Sector

New rules cut red tape for food exporters

No need for special exemptions from Sept 25. 

Rebecca Howard 03 Sep 2025
NZ wine firms feel the squeeze, eye brighter days
Primary Sector

NZ wine firms feel the squeeze, eye brighter days

Global oversupply and weak US demand hit earnings, yet growth is back on the radar.

Riley Kennedy 02 Sep 2025
Counting the cost of restructuring Bremworth
Primary Sector

Counting the cost of restructuring Bremworth

It is now positioned for growth after a “tough” year.

Riley Kennedy 02 Sep 2025