Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Scales Corp. unaffected by SCF receivership

Scales Corp. unaffected by SCF receivership

Aug. 31 (BusinessDesk) – South Canterbury Finance-controlled industrial group and apple grower, Scales Corporation Ltd, today reported a $10.1 million pre-tax operating surplus for the year to June 30, and a reassurance that it is unaffected by its majority shareholder’s receivership.

SCF holds 79.7% of Scales, which operates a diversified portfolio of businesses including apple orchards, shipping logistics, pet food ingredients, coolstore and temperature control operations, industrial parks, bulk liquid storage and processing, and insurance.

“Scales Corp. is not part of the receivership of South Cantberbury Finance Ltd,” said chief executive Andy Borland. “Scales operates autonomously from the activities of its majority shareholder and its day to day operations will not be affected by the receivership.

“For the year ahead, we are forecasting a continuation of profitable trading. We continue to enjoy the ongoing support of our staff, customers and other stakeholders,” Borland said.

The privately held company has a total of 554 shareholders.

(BusinessDesk) 15:24:03

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.