Scales Corp shares hit record high
Strong performance from apple exporter.
Shares in Scales Corp [NZX: SCL] jumped to a record after New Zealand's biggest apple exporter says it expects to beat its forecast for annual earnings following a strong performance from its horticulture unit.
Earnings before interest, tax, depreciation and amortisation are expected to be 25-35% higher than its prospectus forecast of $41.2 million in calendar 2015 for the Christchurch-based company.
In February, the company said it beat its 2014 Ebitda forecast by 2.7% to $39.8 million after better-than-expected apple volumes lifted earnings in its horticulture division.
The company will provide further details on trading with its first-half earnings on August. 27.
Scales Corp shares jumped 6% to a record $2.12, making the stock the best performer on the S&P/NZX All Index today. The stock listed in July last year at an offer price of $1.60.
(BusinessDesk)
Tina Morrison
Thu, 13 Aug 2015
Thu, 13 Aug 2015
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Scales Corp shares hit record high
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