Cyclone-hit wool scourer reopens
The world's largest wool scouring facility, WoolWorks Awatoto plant in Napier, is back operating at full capacity.
The company made this statement after reporting on its half year result. It reported that lockdowns in China had led to material reductions in market prices during critical sales windows, which impacted its horticulture division.
Scales added that lower volumes, higher shipping costs and labour availability also impacted its horticulture division.
The underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) in its horticulture division were $17m - versus $40.8m in the prior year.
Meanwhile, the company has withdrawn its full-year guidance for 2023 due to the wide-ranging impacts of Gabrielle. An initial assessment from the company said the material impact will be on Mr Apple's orchards.
