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Positive start for Scales

Shareholders attending today’s annual meeting of Scales Corporation told that the company is experiencing a positive start to the year.

“We can reconfirm recently released Guidance to the market of a $32 million to $37 million Net Profit range for the year, implying an Underlying EBITDA range of $49 million to $55 million,” said managing director Andy Borland.

 “This compares to Underlying EBITDA of $48.5 million in 2018 on a like-for-like basis. In our Horticulture division, the harvest is almost complete with a total pick of 4.9m cartons from our own orchards (including Longview).

“Whilst this is down 4% on last year, it is in line with the changes anticipated from the orchard redevelopment programme.

“We’re also on track for the forecast export volumes, previously noted. It’s been a positive start to the year in the Logistics division, with Scales Logistics’ activity expected to remain around 2018 levels.

“And in Food Ingredients, one off supply and pricing issues during 2018 / 2019 will negatively impact on first half trading in Australasia, however ongoing petfood ingredient demand remains strong. Sale volumes are expected to be significantly higher due to the inclusion of Shelby.”

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