Scales unaffected by SCF receivership

Tuesday 31st August 2010

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

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