Scales Corporation Limited (NZX: SCL) 2021 Interim Results Announcement

Wednesday 25th August 2021

Diversified agribusiness group Scales Corporation Limited today reported its 1H21 results. Reported NPAT for the Group was $32.6 million (1H20: $27.8 million), an increase of 17.5%.

Scales Corporation Chair Tim Goodacre noted: “Despite the challenges experienced by each of our divisions, our businesses have delivered an exceptional performance both financially and operationally.”

“We continue to benefit from our diversified agribusiness approach and from the strategic benefit that Scales Logistics brings to the Group. The result is also testament to the outstanding performance of our team and the strong culture within the divisions.”

Outlook

Mr Goodacre noted “Due to a strong 1H21 result, Scales has upgraded its full year guidance. Underlying Net Profit is now expected to be between $32.0 million and $37.0 million , implying an Underlying EBITDA of between $65.0 million and $72.0 million.

We continue to anticipate disruptions to domestic and international operations including labour availability, global markets and supply chains due to the ripple effects of COVID-19. This can be evidenced by the current lockdown in New Zealand. However, we believe our diversified focus will go some way to mitigate these issues. We are also aware that our ability to operate during lockdowns is not possible without our team, and their health and safety will continue to be our foremost priority”.

Mr Goodacre again expressed his thanks and gratitude on behalf of his fellow Directors and Shareholders to all Scales’ employees for their ongoing exceptional commitment and dedication which is delivering this current strong financial performance.

Please see the links below for details

Interim Results Presentation - 30 June 2021

Financial Statements - 30 June 2021

Interim Results Announcement - 30 June 2021

Interim Results Media Release - 30 June 2021

Source: Scales Corporation Limited

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