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Scales Corporation says lockdowns in China led to material reductions in market prices during critical sales windows.
Scales Corp says it is still appraising the impact of Cyclone Gabrielle on the horticultural side of its business.
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Meanwhile, the company has withdrawn its full-year guidance for 2023 due to the wide-ranging impacts of Gabrielle.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.
If there was a silver lining in the tragedy that was Cyclone Gabrielle, for New Zealand Young Grower of the Year, Grace Fulford, it was the tremendous sense of community and seeing first-hand what good leadership looks like.
Scales Corporation has today reported its results for the first half of the 2025 financial year, revealing what it says are outstanding results from its horticulture and logistics divisions.
Listed carpet manufacturer, Bremworth is undertaking a $6 million expansion at its Napier plant more than two years after the site was heavily damaged by Cyclone Gabrielle.
The road between Napier and Wairoa is on the mend.
The Good Carbon Farm has partnered with Tolaga Bay Heritage Charitable Trust to deliver its first project in Tairāwhiti Gisborne.
New Zealand First leader and Foreign Minister Winston Peters is ratcheting up pressure on Fonterra farmers as they vote on divesting the co-operative’s consumer and related businesses.
Alliance Group's Pure South Handpicked 55 Day Aged Beef has been recognised on the world stage, securing top honours at the World Steak Challenge in the Netherlands.
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
Rollovers of quad bikes or ATVs towing calf milk trailers have typically prompted a Safety Alert from Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture across New Zealand.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
