close
MENU
Investment
3 mins to read

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

Want to read more? It's easy.

Choose your best value subscription option

Student

Exclusive offer for uni students studying at a New Zealand university (valued at $499).
Individual
Group membership
NBR Marketplace

Yearly Premium Online Subscription

NZ$499.00 / yearly

Monthly Premium Online Subscription

NZ$44.95 / monthly

Smartphone Only Subscription

NZ$24.95 / monthly

Premium Group Membership 10 Users

NZ$350+GST / monthly

$35 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$600+GST / monthly

$30 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1250+GST / monthly

$25 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$1875+GST / monthly

$18.75 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$499.00 / yearly

Already have an account? Login
Kate McVicar Thu, 22 Feb 2024
Contact the Writer: kate@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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. 
Company profile
Powered by:
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Pet food rebalancing and lower yields hinder Scales full year
Investment,
102855
true