‘Outstanding results in a period of change’

Scales Corporation managing director Andy Borland announces outstanding results for the company, with a 39% increase in underlying net profit after tax to $53.6 million and EBITDA of $91.7 million for 2024. The purchase of orchards from Bostock Group and the sale of Blyth and Te Papa orchards will drive the focus on premium apple varieties, particularly DazzleTM, with the aim to increase volumes and expand market reach in Asia and the Middle East. The horticulture division’s performance is improving, aided by the acquisition of Profruit and growth in export volumes, especially in premium varieties like DazzleTM, PosyTM, and NZ Queen, with a projected 75% export volume share by 2027 and a strong financial position with $12.5 million net cash as of December 31, 2024.

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