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Pet food rebalancing and lower yields hinder Scales full year

However, its apple crop and the pet food market provide bright spots.

Scales hopes its horticultural division has seen the last of Cyclone Gabrielle effects.

Kate McVicar Thu, 22 Feb 2024
Key points
  • Revenue: Down 9% to $565.4m.
  • Profit: Down 35% to $24.7m.
  • Main takeaway: Horticulture has rebounded from Cyclone Gabrielle, while Scales hopes a pet food inventory rebalancing would be completed by the later half of FY24. 

Scales Corporation leant on its broad portfolio to support its 2023 financial year, but it wasn’t enough to halt key financials from sliding.

The diversified agribusiness headquartered in Christchurch – which operates across logistics, horticulture, and protein – has reported its annual

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Kate McVicar Thu, 22 Feb 2024
Contact the Writer: kate@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Key points
  • Revenue: Down 9% to $565.4m.
  • Profit: Down 35% to $24.7m.
  • Main takeaway: Horticulture has rebounded from Cyclone Gabrielle, while Scales hopes a pet food inventory rebalancing would be completed by the later half of FY24. 
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Pet food rebalancing and lower yields hinder Scales full year
Investment,
102855
true