Scales unaffected by SCF receivership

South Canterbury Finance-controlled industrial group and apple grower, Scales Corporation, 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 is not part of the receivership of South Cantberbury Finance,” chief executive Andy Borland said. “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.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director