Scales Corporation has reaffirmed its underlying net profit after tax guidance for the 2024 financial year, of $30 million to $35m.
For the 2025 financial year, the company expects an increase in profit, with a guidance range of $35m to $40m.
Scales attributed the positive outlook for 2024 to a return to a more normal trading environment and the successful execution of strategic growth transactions in the horticulture and global proteins divisions.
In the horticulture division, Scales said the orchard transactions with the Bostock Group and Craigmore Sustainables have increased its volumes of premium apple varieties.
In the global proteins division, the company said its increased investment in Meateor Australia was a strategically important transaction.
Scales Corporation declared an interim cash dividend of 7.25 cents per share for the 2024 financial year, to be paid on January 17, 2025.
The company said total dividends for 2024 are expected to be split approximately evenly between interim and final.
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