Scales Corp. unaffected by SCF receivership

Article – Businesswire

Aug. 31 (BusinessDesk) – South Canterbury Finance-controlled industrial group and apple grower, Scales Corporation Ltd, today reported a $10.1 million pre-tax operating surplus for the year to June 30, and a reassurance that it is unaffected by its majority …

Scales Corp. unaffected by SCF receivership

Aug. 31 (BusinessDesk) – South Canterbury Finance-controlled industrial group and apple grower, Scales Corporation Ltd, today reported a $10.1 million pre-tax operating surplus for the year to June 30, and a reassurance that it is unaffected by its majority shareholder’s receivership.

SCF holds 79.7% of Scales, which operates a diversified portfolio of businesses including apple orchards, shipping logistics, pet food ingredients, coolstore and temperature control operations, industrial parks, bulk liquid storage and processing, and insurance.

“Scales Corp. is not part of the receivership of South Cantberbury Finance Ltd,” said chief executive Andy Borland. “Scales operates autonomously from the activities of its majority shareholder and its day to day operations will not be affected by the receivership.

“For the year ahead, we are forecasting a continuation of profitable trading. We continue to enjoy the ongoing support of our staff, customers and other stakeholders,” Borland said.

The privately held company has a total of 554 shareholders.

(BusinessDesk) 15:24:03

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