Friday, February 23, 2024

Hawke’s Bay recovery helps Scales

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Silt cleared and trees carrying promising crop.
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Scales Corporation has restated its guidance for net profit after tax between $14million and $19m in the 2023 financial year ending on December 31.

The FY23 results will be released in late February and a final dividend announcement in May.

Looking ahead, directors have forecast profit attributable to shareholders of $30-$35m in 2024, a return to the levels achieved before Cyclone Gabrielle and the widespread damage to horticultural operations.

They have also declared a fully imputed interim dividend of 4.25c a share, to be paid on January 18.

The indication is that the final dividend will be below the 19c paid for FY22.

Managing director Andy Borland said 2023 has been a very trying one for Hawke’s Bay staff members and the company’s apple operations.

“All the affected orchards have been cleared of silt and remediated and trees are carrying a promising apple crop,” he said.

The share price bumped along during 2023 between $3 and $3.30 and improved by 15c after the positive announcement.

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