Scales doubles profit as more premium apples sold to Middle East, Asia

Wed, 24 Feb 2016

By Tina Morrison Feb. 25 (BusinessDesk) - Scales Corp, New Zealand's biggest apple exporter, more than doubled annual profit as its horticulture unit reaped the benefits from selling higher value apples to key markets. Profit jumped to $38.9 million, or 27.9 cents per share, in the 12 months ended Dec. 31, from $18.4 million, or 14.3 cents, in the year earlier period, the Christchurch-based company said in a statement. Revenue increased 14 percent to $301.4 million. Scales has invested in apple crops that are sought after by customers...

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