Scales Corp posts $13.6 mln profit for 2012, cuts debt by 50 percent

Thu, 06 Jun 2013

June 6 (BusinessDesk) - Scales Corp, the fruit and vegetable logistics group controlled by investment firm Direct Capital, reported a return to profit in calendar 2012 and affirmed its intention to start paying dividends after reducing debt by about 50 percent. Profit was $13.6 million in calendar 2013, from a loss of $8.99 million in the previous six-month period, according to the Christchurch-based company’s annual report. Sales were $227 million, from $93.97 million in the six months ended Dec. 31, 2011, a year in which it changed its bala...

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